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

Elwood Capital Partners LP grew its stake in Rentokil Initial PLC (NYSE:RTO) by 116.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,319 shares of the company’s stock after purchasing an additional 140,000 shares during the period. Rentokil Initial makes up about 4.0% of Elwood Capital Partners LP’s holdings, making the stock its 7th largest holding. Elwood Capital Partners LP owned approximately 0.05% of Rentokil Initial worth $6,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Sunriver Management LLC boosted its stake in Rentokil Initial by 115.5% during the second quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock worth $49,371,000 after buying an additional 1,102,353 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Rentokil Initial by 143.5% in the 2nd quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock worth $43,721,000 after acquiring an additional 1,073,471 shares during the last quarter. QVIDTVM Management LLC raised its holdings in shares of Rentokil Initial by 669.1% during the 3rd quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock worth $43,038,000 after acquiring an additional 1,482,865 shares during the period. Liberty One Investment Management LLC purchased a new stake in shares of Rentokil Initial in the third quarter valued at about $39,946,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Rentokil Initial by 105.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock valued at $39,232,000 after purchasing an additional 798,660 shares during the period. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RTO shares. Morgan Stanley upgraded shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft lowered Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Zacks Research cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Finally, Rothschild & Co Redburn raised shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.50.

Rentokil Initial Price Performance

NYSE RTO opened at $32.33 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $31.56 and a two-hundred day moving average of $28.62. Rentokil Initial PLC has a 1-year low of $19.60 and a 1-year high of $33.47.

Rentokil Initial Dividend Announcement

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

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.