Rentokil Initial PLC $RTO Holdings Reduced by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT decreased its stake in shares of Rentokil Initial PLC (NYSE:RTO) by 50.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 306,397 shares of the company’s stock after selling 308,212 shares during the quarter. Rentokil Initial comprises 3.3% of Iridian Asset Management LLC CT’s holdings, making the stock its 10th largest position. Iridian Asset Management LLC CT’s holdings in Rentokil Initial were worth $9,026,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Rentokil Initial by 143.5% during the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock worth $43,721,000 after buying an additional 1,073,471 shares in the last quarter. QVIDTVM Management LLC lifted its position in Rentokil Initial by 669.1% during the third quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock worth $43,038,000 after buying an additional 1,482,865 shares in the last quarter. Liberty One Investment Management LLC purchased a new position in Rentokil Initial during the third quarter worth approximately $39,946,000. Envestnet Asset Management Inc. lifted its position in 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. Finally, Snyder Capital Management L P lifted its position in Rentokil Initial by 12.0% during the third quarter. Snyder Capital Management L P now owns 1,488,471 shares of the company’s stock worth $37,584,000 after buying an additional 159,801 shares in the last quarter. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Rentokil Initial Stock Down 0.0%

Shares of NYSE RTO opened at $33.59 on Monday. Rentokil Initial PLC has a twelve month low of $21.68 and a twelve month high of $34.09. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $31.65 and a 200-day simple moving average of $29.66.

Rentokil Initial Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Friday, April 10th will be paid a $0.412 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a dividend yield of 245.0%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RTO shares. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Wall Street Zen downgraded Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Sunday, April 5th. UBS Group upgraded Rentokil Initial from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Finally, Morgan Stanley upgraded Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 6th. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Rentokil Initial has an average rating of “Moderate Buy” and an average price target 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.