Rentokil Initial (NYSE:RTO) Reaches New 1-Year High After Analyst Upgrade

Key Points

• Rentokil Initial stock reached a new 52-week high of $27.46 after being upgraded from an underperform to an outperform rating by Sanford C. Bernstein.
• Multiple research firms have issued mixed ratings on the stock, with a consensus rating of "Moderate Buy".
• The company recently announced a semi-annual dividend of $0.2738 per share, representing a yield of 240% with a payout ratio of 21.85%.

Rentokil Initial PLC (NYSE:RTO - Get Free Report)'s stock price reached a new 52-week high on Tuesday after Sanford C. Bernstein upgraded the stock from an underperform rating to an outperform rating. The stock traded as high as $27.37 and last traded at $27.46, with a volume of 10053 shares trading hands. The stock had previously closed at $26.57.

A number of other research firms also recently issued reports on RTO. Berenberg Bank upgraded shares of Rentokil Initial to a "strong sell" rating in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Rentokil Initial in a research note on Monday, July 21st. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Rentokil Initial in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Hedge Funds Weigh In On Rentokil Initial

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Rentokil Initial by 996.0% in the 1st quarter. GAMMA Investing LLC now owns 9,206 shares of the company's stock valued at $211,000 after purchasing an additional 8,366 shares during the period. Park Avenue Securities LLC grew its position in shares of Rentokil Initial by 35.7% during the 1st quarter. Park Avenue Securities LLC now owns 11,653 shares of the company's stock worth $267,000 after purchasing an additional 3,063 shares in the last quarter. Pullen Investment Management LLC acquired a new stake in shares of Rentokil Initial in the first quarter valued at approximately $1,114,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Rentokil Initial by 44.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,930 shares of the company's stock valued at $296,000 after acquiring an additional 3,993 shares during the period. Finally, Keystone Financial Services raised its stake in Rentokil Initial by 22.0% in the first quarter. Keystone Financial Services now owns 11,392 shares of the company's stock valued at $261,000 after purchasing an additional 2,057 shares in the last quarter. Institutional investors own 9.91% of the company's stock.

Rentokil Initial Stock Up 3.3%

The stock has a 50 day moving average of $24.72 and a 200 day moving average of $23.77. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 4.60 and a beta of 0.95.

Rentokil Initial Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, August 15th were given a dividend of $0.2738 per share. This represents a yield of 240.0%. The ex-dividend date was Friday, August 15th. Rentokil Initial's payout ratio is currently 21.85%.

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.

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