Independent Franchise Partners LLP Acquires 676,473 Shares of Rentokil Initial PLC $RTO

Independent Franchise Partners LLP increased its holdings in shares of Rentokil Initial PLC (NYSE:RTO) by 662.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 778,628 shares of the company’s stock after acquiring an additional 676,473 shares during the period. Rentokil Initial makes up 0.1% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 29th largest holding. Independent Franchise Partners LLP owned about 0.15% of Rentokil Initial worth $19,660,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RTO. Pullen Investment Management LLC boosted its position in shares of Rentokil Initial by 0.7% in the 3rd quarter. Pullen Investment Management LLC now owns 48,758 shares of the company’s stock worth $1,231,000 after purchasing an additional 359 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in Rentokil Initial by 2.0% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 21,228 shares of the company’s stock valued at $536,000 after buying an additional 414 shares in the last quarter. Capital World Investors raised its stake in Rentokil Initial by 0.8% during the third quarter. Capital World Investors now owns 96,098 shares of the company’s stock valued at $2,373,000 after buying an additional 783 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in Rentokil Initial by 2.8% in the second quarter. SkyView Investment Advisors LLC now owns 39,436 shares of the company’s stock worth $960,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Rentokil Initial by 171.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after acquiring an additional 1,089 shares during the last quarter. 9.91% of the stock is currently owned by hedge funds and other institutional investors.

Rentokil Initial Stock Performance

Shares of NYSE:RTO opened at $32.33 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03. The business has a 50-day simple moving average of $31.56 and a two-hundred day simple moving average of $28.59. Rentokil Initial PLC has a fifty-two week low of $19.60 and a fifty-two week high of $33.47.

Rentokil Initial Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, April 10th.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Deutsche Bank Aktiengesellschaft cut shares of Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. Oppenheimer raised their price target on shares of Rentokil Initial from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

About Rentokil Initial

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.