Rentokil Initial PLC (NYSE:RTO) Short Interest Update

Key Points

• Short interest jumped to 3,345,677 shares as of April 15, a 21.2% increase from March 31, representing about 0.7% of shares outstanding and a days-to-cover ratio of 3.7.
• Dividend announced: Rentokil disclosed a $0.412 dividend payable May 19 to holders of record on April 10 (ex-dividend date April 10).
• Analyst sentiment is mixed but slightly positive: the consensus rating is a "Moderate Buy" with a $34.50 average price target after a range of recent downgrades and upgrades from major firms.

Rentokil Initial PLC (NYSE:RTO - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 3,345,677 shares, a growth of 21.2% from the March 31st total of 2,761,212 shares. Based on an average trading volume of 895,822 shares, the days-to-cover ratio is currently 3.7 days. Currently, 0.7% of the company's shares are sold short.

Institutional Investors Weigh In On Rentokil Initial

Several large investors have recently bought and sold shares of RTO. Elevation Point Wealth Partners LLC boosted its position in Rentokil Initial by 4.7% in the first quarter. Elevation Point Wealth Partners LLC now owns 7,299 shares of the company's stock worth $230,000 after purchasing an additional 328 shares during the last quarter. Pullen Investment Management LLC boosted its position in Rentokil Initial by 0.7% in the third quarter. Pullen Investment Management LLC now owns 48,758 shares of the company's stock worth $1,231,000 after purchasing an additional 359 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its position in Rentokil Initial by 2.0% in the third quarter. Vestmark Advisory Solutions Inc. now owns 21,228 shares of the company's stock worth $536,000 after purchasing an additional 414 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Rentokil Initial by 5.4% in the fourth quarter. Evergreen Capital Management LLC now owns 10,425 shares of the company's stock worth $307,000 after purchasing an additional 531 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Rentokil Initial by 76.5% in the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the company's stock worth $36,000 after purchasing an additional 534 shares during the last quarter. 9.91% of the stock is currently owned by institutional investors.

Rentokil Initial Price Performance

Shares of NYSE:RTO opened at $33.01 on Thursday. Rentokil Initial has a 1-year low of $22.66 and a 1-year high of $34.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.16. The business has a fifty day moving average price of $32.19 and a 200-day moving average price of $30.33.

Rentokil Initial Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be issued a $0.412 dividend. This represents a yield of 245.0%. The ex-dividend date is Friday, April 10th.

Wall Street Analyst Weigh In

A number of analysts recently commented on RTO shares. Deutsche Bank Aktiengesellschaft lowered Rentokil Initial from a "buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Wall Street Zen lowered Rentokil Initial from a "buy" rating to a "hold" rating in a research note on Sunday, April 5th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. Oppenheimer raised their price target on Rentokil Initial from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 10th. Finally, UBS Group upgraded Rentokil Initial from a "neutral" rating to a "buy" rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Rentokil Initial presently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.

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