Rentokil Initial PLC $RTO Shares Acquired by Synovus Financial Corp

Key Points

• Synovus Financial Corp has increased its stake in Rentokil Initial PLC by 42.4%, owning 143,644 shares valued at approximately $3.29 million.
• The company recently announced a semi-annual dividend of $0.2738, with a dividend yield of 240.0% and a payout ratio of 29.80%.
• Analyst ratings reflect mixed sentiments, with the average rating being a "Moderate Buy", although there have been both upgrades and downgrades from various firms.

Synovus Financial Corp lifted its stake in shares of Rentokil Initial PLC (NYSE:RTO - Free Report) by 42.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,644 shares of the company's stock after buying an additional 42,786 shares during the quarter. Synovus Financial Corp's holdings in Rentokil Initial were worth $3,290,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. MML Investors Services LLC lifted its position in shares of Rentokil Initial by 0.8% during the 4th quarter. MML Investors Services LLC now owns 90,687 shares of the company's stock worth $2,296,000 after buying an additional 704 shares during the last quarter. Sit Investment Associates Inc. raised its position in Rentokil Initial by 3.7% in the 1st quarter. Sit Investment Associates Inc. now owns 22,065 shares of the company's stock valued at $505,000 after purchasing an additional 787 shares during the last quarter. Whittier Trust Co. raised its position in Rentokil Initial by 8.0% in the 1st quarter. Whittier Trust Co. now owns 13,043 shares of the company's stock valued at $299,000 after purchasing an additional 967 shares during the last quarter. Brooklyn Investment Group raised its position in Rentokil Initial by 668.3% in the 1st quarter. Brooklyn Investment Group now owns 1,598 shares of the company's stock valued at $37,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Exencial Wealth Advisors LLC raised its position in Rentokil Initial by 3.3% in the 1st quarter. Exencial Wealth Advisors LLC now owns 44,985 shares of the company's stock valued at $1,030,000 after purchasing an additional 1,453 shares during the last quarter. Hedge funds and other institutional investors own 9.91% of the company's stock.

Rentokil Initial Stock Performance

RTO traded up $0.22 during trading on Friday, hitting $24.72. The stock had a trading volume of 2,131,573 shares, compared to its average volume of 899,721. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.72 and a current ratio of 0.81. The firm has a market capitalization of $12.49 billion, a P/E ratio of 16.37, a PEG ratio of 4.30 and a beta of 0.94. The company's 50-day moving average price is $24.09 and its 200 day moving average price is $23.58. Rentokil Initial PLC has a twelve month low of $19.60 and a twelve month high of $32.41.

Rentokil Initial Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, August 15th will be paid a $0.2738 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Friday, August 15th. Rentokil Initial's payout ratio is currently 29.80%.

Wall Street Analyst Weigh In

Several analysts recently commented on RTO shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Rentokil Initial in a research report on Monday, July 21st. Sanford C. Bernstein downgraded shares of Rentokil Initial from a "market perform" rating to an "underperform" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.