Schroder Investment Management Group Lowers Holdings in Rentokil Initial PLC $RTO

Schroder Investment Management Group reduced its position in shares of Rentokil Initial PLC (NYSE:RTO) by 17.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,196,266 shares of the company’s stock after selling 654,268 shares during the quarter. Schroder Investment Management Group owned 0.63% of Rentokil Initial worth $78,916,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Jane Street Group LLC raised its holdings in Rentokil Initial by 292.0% in the 1st quarter. Jane Street Group LLC now owns 117,341 shares of the company’s stock worth $2,687,000 after acquiring an additional 87,405 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Rentokil Initial during the 2nd quarter valued at about $804,000. Quinn Opportunity Partners LLC bought a new position in Rentokil Initial during the second quarter valued at approximately $1,011,000. PNC Financial Services Group Inc. raised its stake in Rentokil Initial by 88.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,723 shares of the company’s stock valued at $113,000 after buying an additional 2,213 shares during the last quarter. Finally, ABC Arbitrage SA boosted its stake in shares of Rentokil Initial by 775.9% in the 2nd quarter. ABC Arbitrage SA now owns 459,270 shares of the company’s stock worth $11,022,000 after buying an additional 406,838 shares during the last quarter. 9.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RTO. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Rothschild & Co Redburn downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft downgraded Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, December 18th. Finally, Zacks Research downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.00.

Rentokil Initial Stock Performance

Shares of RTO stock opened at $31.61 on Tuesday. The company’s fifty day simple moving average is $31.38 and its two-hundred day simple moving average is $28.44. Rentokil Initial PLC has a 52 week low of $19.60 and a 52 week high of $33.46. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79.

Rentokil Initial Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be paid a dividend of $0.412 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a yield of 266.0%.

Rentokil Initial Profile

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.