III Capital Management Grows Holdings in Rentokil Initial PLC $RTO

III Capital Management raised its holdings in Rentokil Initial PLC (NYSE:RTO) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,132 shares of the company’s stock after buying an additional 25,000 shares during the period. Rentokil Initial comprises about 0.8% of III Capital Management’s holdings, making the stock its 6th largest position. III Capital Management’s holdings in Rentokil Initial were worth $5,454,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Schroder Investment Management Group lifted its stake in shares of Rentokil Initial by 8.4% in the fourth quarter. Schroder Investment Management Group now owns 3,463,470 shares of the company’s stock valued at $103,558,000 after buying an additional 267,204 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Rentokil Initial by 143.5% in the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock valued at $43,721,000 after buying an additional 1,073,471 shares in the last quarter. Snyder Capital Management L P lifted its stake in shares of Rentokil Initial by 16.5% in the fourth quarter. Snyder Capital Management L P now owns 1,733,447 shares of the company’s stock valued at $51,067,000 after buying an additional 244,976 shares in the last quarter. Summitry LLC lifted its stake in shares of Rentokil Initial by 1.7% in the fourth quarter. Summitry LLC now owns 1,475,957 shares of the company’s stock valued at $43,482,000 after buying an additional 25,170 shares in the last quarter. Finally, Optiver Holding B.V. lifted its stake in shares of Rentokil Initial by 121.1% in the third quarter. Optiver Holding B.V. now owns 1,466,714 shares of the company’s stock valued at $37,035,000 after buying an additional 803,280 shares in the last quarter. 9.91% of the stock is owned by institutional investors.

Rentokil Initial Trading Down 4.4%

Shares of RTO stock opened at $29.00 on Thursday. The firm has a 50-day moving average of $32.10 and a 200-day moving average of $31.30. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. Rentokil Initial PLC has a one year low of $22.72 and a one year high of $34.67.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Zacks Research downgraded shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Monday. Rothschild & Co Redburn upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Wednesday, March 11th. Oppenheimer increased their target price on shares of Rentokil Initial from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Finally, UBS Group upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Rentokil Initial Company 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.