Alberta Investment Management Corp Sells 149,400 Shares of Rentokil Initial PLC $RTO

Alberta Investment Management Corp lessened its stake in Rentokil Initial PLC (NYSE:RTO) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,645,500 shares of the company’s stock after selling 149,400 shares during the quarter. Alberta Investment Management Corp’s holdings in Rentokil Initial were worth $48,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RTO. Bank of America Corp DE increased its position in shares of Rentokil Initial by 143.5% during the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock valued at $43,721,000 after acquiring an additional 1,073,471 shares in the last quarter. Optiver Holding B.V. raised its stake in shares of Rentokil Initial by 121.1% in the third quarter. Optiver Holding B.V. now owns 1,466,714 shares of the company’s stock worth $37,035,000 after purchasing an additional 803,280 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Rentokil Initial by 662.2% during the third quarter. Independent Franchise Partners LLP now owns 778,628 shares of the company’s stock valued at $19,660,000 after purchasing an additional 676,473 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Rentokil Initial by 501.4% during the third quarter. JPMorgan Chase & Co. now owns 560,332 shares of the company’s stock valued at $14,148,000 after purchasing an additional 467,167 shares in the last quarter. Finally, Clark Estates Inc. NY purchased a new stake in shares of Rentokil Initial during the third quarter valued at $8,332,000. Institutional investors own 9.91% of the company’s stock.

Analyst Ratings Changes

RTO has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on shares of Rentokil Initial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Zacks Research cut shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Monday. UBS Group raised shares of Rentokil Initial from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Finally, Rothschild & Co Redburn upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Rentokil Initial Trading Down 1.8%

RTO opened at $28.51 on Friday. The company’s 50 day moving average is $32.02 and its 200 day moving average is $31.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.16 and a quick ratio of 1.07. Rentokil Initial PLC has a 12-month low of $22.72 and a 12-month high of $34.67.

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.