Rentokil Initial PLC (NYSE:RTO) Short Interest Update

Key Points

• Short interest in Rentokil Initial PLC increased by 41.1% in August, rising to 3,160,000 shares, indicating heightened bearish sentiment towards the stock.
• Hedge funds have significantly increased their holdings in Rentokil, with Northern Trust Corp leading with a 94.8% increase during the fourth quarter.
• The company announced a semi-annual dividend of $0.2738 per share to be paid on September 23rd, translating to a yield of 240.0%.

Rentokil Initial PLC (NYSE:RTO - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 3,160,000 shares, a growth of 41.1% from the July 31st total of 2,240,000 shares. Approximately 0.6% of the company's stock are short sold. Based on an average daily volume of 740,600 shares, the short-interest ratio is currently 4.3 days. Based on an average daily volume of 740,600 shares, the short-interest ratio is currently 4.3 days. Approximately 0.6% of the company's stock are short sold.

Rentokil Initial Stock Down 0.9%

NYSE RTO traded down $0.24 on Friday, hitting $25.47. 562,000 shares of the stock traded hands, compared to its average volume of 744,835. The stock has a 50-day moving average of $24.34 and a 200 day moving average of $23.53. Rentokil Initial has a twelve month low of $19.60 and a twelve month high of $27.37. The company has a market capitalization of $12.87 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 4.47 and a beta of 0.94. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 0.59.

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 dividend of $0.2738 per share. The ex-dividend date is Friday, August 15th. This represents a yield of 240.0%. Rentokil Initial's dividend payout ratio is presently 29.80%.

Institutional Trading of Rentokil Initial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in Rentokil Initial by 38.9% during the second quarter. Osaic Holdings Inc. now owns 8,886 shares of the company's stock valued at $211,000 after buying an additional 2,490 shares in the last quarter. Squarepoint Ops LLC raised its stake in Rentokil Initial by 120.3% during the second quarter. Squarepoint Ops LLC now owns 54,501 shares of the company's stock valued at $1,308,000 after buying an additional 29,762 shares in the last quarter. State of Wyoming raised its stake in Rentokil Initial by 669.3% during the second quarter. State of Wyoming now owns 15,509 shares of the company's stock valued at $372,000 after buying an additional 13,493 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Rentokil Initial by 93,129.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 293,673 shares of the company's stock worth $7,048,000 after purchasing an additional 293,358 shares during the period. Finally, SkyView Investment Advisors LLC raised its position in shares of Rentokil Initial by 2.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 39,436 shares of the company's stock worth $960,000 after purchasing an additional 1,067 shares during the period. Institutional investors and hedge funds own 9.91% of the company's stock.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Rentokil Initial in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Rentokil Initial Company Profile

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.