Harvey Partners LLC Reduces Stake in Rentokil Initial PLC $RTO

Harvey Partners LLC reduced its holdings in Rentokil Initial PLC (NYSE:RTO) by 27.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 885,000 shares of the company’s stock after selling 335,000 shares during the quarter. Rentokil Initial accounts for about 2.0% of Harvey Partners LLC’s investment portfolio, making the stock its 24th largest holding. Harvey Partners LLC’s holdings in Rentokil Initial were worth $22,346,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pullen Investment Management LLC lifted its stake 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 acquiring an additional 359 shares during the period. Vestmark Advisory Solutions Inc. lifted its position in shares of Rentokil Initial by 2.0% in the 3rd 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 period. Capital World Investors boosted its stake in shares of Rentokil Initial by 0.8% during the 3rd quarter. Capital World Investors now owns 96,098 shares of the company’s stock valued at $2,373,000 after purchasing an additional 783 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Rentokil Initial by 2.8% during the second quarter. SkyView Investment Advisors LLC now owns 39,436 shares of the company’s stock valued at $960,000 after buying an additional 1,067 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Rentokil Initial by 171.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock valued at $43,000 after buying an additional 1,089 shares during the period. Institutional investors own 9.91% of the company’s stock.

Rentokil Initial Trading Down 0.8%

Shares of NYSE RTO opened at $32.33 on Monday. The company has a 50 day simple moving average of $31.56 and a two-hundred day simple moving average of $28.66. Rentokil Initial PLC has a fifty-two week low of $19.60 and a fifty-two week high of $33.47. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.79.

Rentokil Initial Dividend Announcement

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

Analyst Ratings Changes

Several analysts have commented on RTO shares. Deutsche Bank Aktiengesellschaft lowered shares of Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Rothschild & Co Redburn upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 11th. Zacks Research lowered Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Finally, UBS Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company 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.