ABC Arbitrage SA Takes Position in Rentokil Initial PLC (NYSE:RTO)

by · The Markets Daily

ABC Arbitrage SA purchased a new position in Rentokil Initial PLC (NYSE:RTO – Free Report) during the first quarter, Holdings Channel.com reports. The firm purchased 52,432 shares of the company’s stock, valued at approximately $1,201,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RTO. Alberta Investment Management Corp lifted its holdings in shares of Rentokil Initial by 36.8% in the first quarter. Alberta Investment Management Corp now owns 1,794,900 shares of the company’s stock valued at $41,103,000 after purchasing an additional 482,429 shares in the last quarter. Wealthquest Corp acquired a new stake in Rentokil Initial during the 1st quarter worth about $66,000. First Foundation Advisors purchased a new position in Rentokil Initial during the 1st quarter valued at about $339,000. Assetmark Inc. increased its holdings in shares of Rentokil Initial by 260.4% in the 1st quarter. Assetmark Inc. now owns 82,693 shares of the company’s stock valued at $1,894,000 after purchasing an additional 59,749 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Rentokil Initial by 27.5% in the first quarter. Cetera Investment Advisers now owns 41,646 shares of the company’s stock worth $954,000 after purchasing an additional 8,985 shares in the last quarter. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Trading Up 1.2%

NYSE:RTO opened at $23.62 on Wednesday. The company has a market capitalization of $11.93 billion, a P/E ratio of 15.64 and a beta of 0.92. The stock’s 50 day moving average price is $23.77 and its 200 day moving average price is $23.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.72 and a current ratio of 0.81. Rentokil Initial PLC has a 52 week low of $19.60 and a 52 week high of $34.07.

Rentokil Initial Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, August 15th will be issued a dividend of $0.2738 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 240.0%. Rentokil Initial’s dividend payout ratio (DPR) is currently 45.70%.

Analyst Ratings Changes

RTO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rentokil Initial in a research report on Monday, July 21st. Sanford C. Bernstein cut Rentokil Initial from a “market perform” rating to an “underperform” rating in a research report on Thursday, May 15th.

Check Out Our Latest Stock Analysis on Rentokil Initial

Rentokil Initial Profile

(Free Report)

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.

Recommended Stories

Want to see what other hedge funds are holding RTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rentokil Initial PLC (NYSE:RTO – Free Report).