Rentokil Initial (NYSE:RTO) Cut to Hold at Wall Street Zen
by Mitch Edgeman · The Markets DailyWall Street Zen lowered shares of Rentokil Initial (NYSE:RTO – Free Report) from a buy rating to a hold rating in a research report sent to investors on Sunday.
Several other brokerages have also recently issued reports on RTO. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Thursday, December 18th. UBS Group upgraded Rentokil Initial from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Oppenheimer lifted their price objective on Rentokil Initial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Zacks Research cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Finally, Rothschild & Co Redburn upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Rentokil Initial presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.
View Our Latest Research Report on RTO
Rentokil Initial Stock Performance
Shares of Rentokil Initial stock opened at $32.64 on Friday. The business has a 50-day moving average of $31.55 and a 200 day moving average of $29.46. Rentokil Initial has a 12 month low of $19.75 and a 12 month high of $33.47.
Rentokil Initial Dividend Announcement
The firm also recently announced a dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Friday, April 10th will be given a dividend of $0.412 per share. This represents a dividend yield of 266.0%. The ex-dividend date of this dividend is Friday, April 10th.
Institutional Investors Weigh In On Rentokil Initial
Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position in shares of Rentokil Initial by 222.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company’s stock worth $34,000 after acquiring an additional 802 shares in the last quarter. GAMMA Investing LLC increased its position in Rentokil Initial by 76.5% during the fourth quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock worth $36,000 after buying an additional 534 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Rentokil Initial during the fourth quarter worth approximately $39,000. Smartleaf Asset Management LLC increased its position in Rentokil Initial by 171.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after buying an additional 1,089 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Rentokil Initial by 296.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,954 shares of the company’s stock worth $58,000 after buying an additional 1,461 shares during the period. Institutional investors and hedge funds own 9.91% of the company’s stock.
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.