Harvey Partners LLC Sells 335,000 Shares of Rentokil Initial PLC $RTO

Harvey Partners LLC cut its stake in Rentokil Initial PLC (NYSE:RTO) by 27.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 885,000 shares of the company’s stock after selling 335,000 shares during the period. Rentokil Initial comprises approximately 2.0% of Harvey Partners LLC’s portfolio, making the stock its 24th largest position. Harvey Partners LLC owned about 0.18% of Rentokil Initial worth $22,346,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in RTO. Envestnet Asset Management Inc. lifted its stake 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 purchasing an additional 798,660 shares during the last quarter. Liberty One Investment Management LLC bought a new position in shares of Rentokil Initial during the 3rd quarter valued at about $39,946,000. Clark Estates Inc. NY purchased a new position in shares of Rentokil Initial during the 3rd quarter valued at about $8,332,000. Nichols & Pratt Advisers LLP MA lifted its position in Rentokil Initial by 5.9% in the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company’s stock worth $22,003,000 after buying an additional 48,184 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in Rentokil Initial in the third quarter worth approximately $1,132,000. Institutional investors own 9.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Rothschild & Co Redburn upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a research report on Wednesday, March 11th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rentokil Initial in a research note on Friday, November 21st. UBS Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a research note on Thursday. Finally, Zacks Research downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Price Performance

NYSE:RTO opened at $32.33 on Monday. Rentokil Initial PLC has a 52 week low of $19.60 and a 52 week high of $33.47. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average of $31.56 and a 200 day moving average of $28.66.

Rentokil Initial Announces Dividend

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

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.