JPMorgan Chase & Co. Has $14.15 Million Stock Holdings in Rentokil Initial PLC $RTO

JPMorgan Chase & Co. increased its position in shares of Rentokil Initial PLC (NYSE:RTO) by 501.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 560,332 shares of the company’s stock after acquiring an additional 467,167 shares during the quarter. JPMorgan Chase & Co.’s holdings in Rentokil Initial were worth $14,148,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in Rentokil Initial by 105.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock worth $39,232,000 after purchasing an additional 798,660 shares during the period. Clark Estates Inc. NY acquired a new position in shares of Rentokil Initial in the 3rd quarter valued at $8,332,000. Liberty One Investment Management LLC bought a new stake in shares of Rentokil Initial in the 3rd quarter valued at $39,946,000. Nichols & Pratt Advisers LLP MA raised its stake in Rentokil Initial by 5.9% during the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company’s stock worth $22,003,000 after buying an additional 48,184 shares during the period. Finally, Advisor OS LLC acquired a new stake in Rentokil Initial during the 3rd quarter worth $1,014,000. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Price Performance

Shares of Rentokil Initial stock opened at $30.72 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12. The stock’s 50-day moving average is $31.61 and its 200-day moving average is $29.02. Rentokil Initial PLC has a one year low of $19.60 and a one year high of $33.47.

Rentokil Initial Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on RTO. Deutsche Bank Aktiengesellschaft lowered Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Bank of America raised Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, December 18th. Zacks Research cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Finally, UBS Group upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rentokil Initial currently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

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.