ABC Arbitrage SA Sells 230,066 Shares of Rentokil Initial PLC $RTO

ABC Arbitrage SA decreased its position in shares of Rentokil Initial PLC (NYSE:RTO) by 62.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,538 shares of the company’s stock after selling 230,066 shares during the period. ABC Arbitrage SA’s holdings in Rentokil Initial were worth $4,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RTO. Bleakley Financial Group LLC grew its stake in shares of Rentokil Initial by 28.1% during the first quarter. Bleakley Financial Group LLC now owns 78,649 shares of the company’s stock worth $2,476,000 after buying an additional 17,258 shares during the last quarter. Castleview Partners LLC acquired a new stake in shares of Rentokil Initial during the 1st quarter valued at $210,000. Fifth Third Bancorp acquired a new stake in shares of Rentokil Initial during the 1st quarter valued at $83,000. Sequoia Financial Advisors LLC grew its position in Rentokil Initial by 40.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 10,874 shares of the company’s stock worth $342,000 after acquiring an additional 3,151 shares during the last quarter. Finally, Money Concepts Capital Corp grew its position in Rentokil Initial by 17.2% during the 1st quarter. Money Concepts Capital Corp now owns 23,330 shares of the company’s stock worth $734,000 after acquiring an additional 3,416 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a research note on Monday, July 6th. Zacks Research downgraded shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Rentokil Initial in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Rentokil Initial from a “hold” rating to a “buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Rentokil Initial has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Rentokil Initial Stock Performance

Rentokil Initial stock opened at $29.59 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.16. Rentokil Initial PLC has a 52-week low of $22.77 and a 52-week high of $34.67. The firm has a 50 day moving average price of $30.51 and a two-hundred day moving average price of $31.37.

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.