Clearbridge Investments LLC Has $54.53 Million Position in Rentokil Initial plc (NYSE:RTO)

Clearbridge Investments LLC reduced its position in shares of Rentokil Initial plc (NYSE:RTO) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,905,953 shares of the company’s stock after selling 239,715 shares during the period. Clearbridge Investments LLC’s holdings in Rentokil Initial were worth $54,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new position in Rentokil Initial in the 4th quarter valued at $34,000. Principal Securities Inc. bought a new position in shares of Rentokil Initial in the 4th quarter valued at $47,000. Quantbot Technologies LP bought a new position in shares of Rentokil Initial in the 3rd quarter valued at $48,000. Fiera Capital Corp bought a new position in shares of Rentokil Initial in the 3rd quarter valued at $211,000. Finally, Whittier Trust Co. increased its stake in shares of Rentokil Initial by 17.8% in the 4th quarter. Whittier Trust Co. now owns 7,538 shares of the company’s stock valued at $216,000 after purchasing an additional 1,141 shares during the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RTO shares. JPMorgan Chase & Co. began coverage on Rentokil Initial in a research note on Tuesday, April 23rd. They issued a “neutral” rating on the stock. BNP Paribas upgraded Rentokil Initial from a “neutral” rating to an “outperform” rating in a research report on Monday, March 18th. Finally, Bank of America lowered Rentokil Initial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $40.00 to $29.00 in a research report on Wednesday, January 24th.

Rentokil Initial Price Performance

Shares of NYSE:RTO opened at $26.46 on Thursday. The business’s 50-day moving average is $28.12 and its 200-day moving average is $27.68. Rentokil Initial plc has a 1 year low of $23.39 and a 1 year high of $41.55.

Rentokil Initial Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, April 5th will be paid a $0.3784 dividend. This represents a dividend yield of 1.6%. This is an increase from Rentokil Initial’s previous semi-annual dividend of $0.18. The ex-dividend date of this dividend is Thursday, April 4th.

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.