First Trust Direct Indexing L.P. Sells 2,531 Shares of Rentokil Initial plc (NYSE:RTO)

First Trust Direct Indexing L.P. reduced its stake in shares of Rentokil Initial plc (NYSE:RTO) by 23.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,089 shares of the company’s stock after selling 2,531 shares during the period. First Trust Direct Indexing L.P.’s holdings in Rentokil Initial were worth $231,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in Rentokil Initial during the third quarter worth $48,000. Fiera Capital Corp purchased a new stake in shares of Rentokil Initial in the third quarter valued at about $211,000. Whittier Trust Co. lifted its position in shares of Rentokil Initial by 17.8% during the fourth quarter. Whittier Trust Co. now owns 7,538 shares of the company’s stock valued at $216,000 after purchasing an additional 1,141 shares in the last quarter. Gitterman Wealth Management LLC boosted its holdings in Rentokil Initial by 8.0% during the third quarter. Gitterman Wealth Management LLC now owns 5,974 shares of the company’s stock worth $221,000 after purchasing an additional 443 shares during the last quarter. Finally, Advisor Partners II LLC bought a new stake in Rentokil Initial in the 3rd quarter worth about $240,000. 9.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RTO. JPMorgan Chase & Co. initiated coverage on Rentokil Initial in a research note on Tuesday, April 23rd. They issued a “neutral” rating on the stock. BNP Paribas raised Rentokil Initial from a “neutral” rating to an “outperform” rating in a research report on Monday, March 18th. Finally, Bank of America downgraded shares of Rentokil Initial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $29.00 in a report on Wednesday, January 24th.

Rentokil Initial Stock Performance

Shares of RTO opened at $26.57 on Wednesday. Rentokil Initial plc has a 1 year low of $23.39 and a 1 year high of $41.55. The stock’s fifty day moving average price is $28.73 and its two-hundred day moving average price is $27.64.

Rentokil Initial Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, April 5th will be given a dividend of $0.3784 per share. This represents a yield of 1.6%. The ex-dividend date is Thursday, April 4th. This is a positive change from Rentokil Initial’s previous semi-annual dividend of $0.18.

About Rentokil Initial

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.