Envestnet Asset Management Inc. Acquires 798,660 Shares of Rentokil Initial PLC $RTO

Envestnet Asset Management Inc. lifted its stake in Rentokil Initial PLC (NYSE:RTO) by 105.8% during the third quarter, HoldingsChannel reports. The firm owned 1,553,740 shares of the company’s stock after purchasing an additional 798,660 shares during the period. Envestnet Asset Management Inc.’s holdings in Rentokil Initial were worth $39,232,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RTO. Nichols & Pratt Advisers LLP MA grew its stake 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 acquiring an additional 48,184 shares in the last quarter. Money Concepts Capital Corp purchased a new stake in shares of Rentokil Initial in the third quarter valued at approximately $264,000. AE Wealth Management LLC purchased a new stake in shares of Rentokil Initial in the third quarter valued at approximately $383,000. Vanguard Personalized Indexing Management LLC grew its stake in Rentokil Initial by 59.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,052 shares of the company’s stock worth $532,000 after purchasing an additional 7,862 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in Rentokil Initial during the 3rd quarter worth $218,000. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RTO. Rothschild & Co Redburn cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Morgan Stanley raised shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Finally, Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Rentokil Initial Stock Up 0.1%

RTO stock opened at $32.39 on Wednesday. Rentokil Initial PLC has a one year low of $19.60 and a one year high of $33.46. 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 firm has a 50-day simple moving average of $30.67 and a two-hundred day simple moving average of $27.55.

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.