Elwood Capital Partners LP Buys 140,000 Shares of Rentokil Initial PLC $RTO

Elwood Capital Partners LP increased its stake in shares of Rentokil Initial PLC (NYSE:RTO) by 116.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 260,319 shares of the company’s stock after purchasing an additional 140,000 shares during the period. Rentokil Initial makes up 4.0% of Elwood Capital Partners LP’s investment portfolio, making the stock its 7th biggest position. Elwood Capital Partners LP’s holdings in Rentokil Initial were worth $6,573,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in shares of Rentokil Initial by 105.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock worth $39,232,000 after buying an additional 798,660 shares in the last quarter. Liberty One Investment Management LLC acquired a new stake in Rentokil Initial in the third quarter valued at approximately $39,946,000. Clark Estates Inc. NY purchased a new position in Rentokil Initial in the third quarter worth approximately $8,332,000. Nichols & Pratt Advisers LLP MA lifted its stake in Rentokil Initial by 5.9% in the third quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company’s stock worth $22,003,000 after acquiring an additional 48,184 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Rentokil Initial during the 3rd quarter worth approximately $1,132,000. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Price Performance

Shares of RTO opened at $32.33 on Friday. Rentokil Initial PLC has a twelve month low of $19.60 and a twelve month high of $33.47. 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 firm’s 50-day moving average is $31.56 and its two-hundred day moving average is $28.62.

Rentokil Initial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Morgan Stanley upgraded Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Zacks Research downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Oppenheimer lifted their target price on Rentokil Initial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Finally, Rothschild & Co Redburn raised Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock 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.