JPMorgan Chase & Co. Buys 467,167 Shares of Rentokil Initial PLC $RTO

JPMorgan Chase & Co. increased its stake in shares of Rentokil Initial PLC (NYSE:RTO) by 501.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560,332 shares of the company’s stock after purchasing an additional 467,167 shares during the quarter. JPMorgan Chase & Co. owned about 0.11% of Rentokil Initial worth $14,148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Rentokil Initial by 171.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after purchasing an additional 1,089 shares during the last quarter. IFP Advisors Inc boosted its position in Rentokil Initial by 53.8% in the 3rd quarter. IFP Advisors Inc now owns 1,972 shares of the company’s stock valued at $50,000 after buying an additional 690 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Rentokil Initial by 40.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,582 shares of the company’s stock valued at $110,000 after buying an additional 1,309 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Rentokil Initial by 88.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,723 shares of the company’s stock valued at $113,000 after buying an additional 2,213 shares during the period. Finally, FNY Investment Advisers LLC increased its stake in shares of Rentokil Initial by 277.8% in the 3rd quarter. FNY Investment Advisers LLC now owns 6,800 shares of the company’s stock valued at $171,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Price Performance

NYSE:RTO opened at $30.72 on Friday. Rentokil Initial PLC has a 12-month low of $19.60 and a 12-month high of $33.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12. The stock’s fifty day simple moving average is $31.61 and its 200-day simple moving average is $29.02.

Rentokil Initial Dividend Announcement

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

Analyst Ratings Changes

RTO has been the topic of several research reports. Oppenheimer upped their price target on Rentokil Initial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, December 18th. Rothschild & Co Redburn raised Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Wednesday, March 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Finally, UBS Group raised shares of Rentokil Initial from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. One research 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 stock has a consensus rating of “Moderate Buy” and a consensus target price 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.