Analysts Set Rentokil Initial plc (NYSE:RTO) PT at $29.00

Shares of Rentokil Initial plc (NYSE:RTO) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.00.

A number of research firms have commented on RTO. JPMorgan Chase & Co. initiated coverage on shares of Rentokil Initial in a report on Tuesday, April 23rd. They issued a “neutral” rating for the company. UBS Group upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Monday, July 1st. Finally, Sanford C. Bernstein raised Rentokil Initial from an “underperform” rating to a “market perform” rating in a research note on Monday, July 22nd.

Institutional Trading of Rentokil Initial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its holdings in Rentokil Initial by 17.8% during the 4th quarter. Whittier Trust Co. now owns 7,538 shares of the company’s stock worth $216,000 after acquiring an additional 1,141 shares during the last quarter. Raymond James & Associates boosted its holdings in Rentokil Initial by 7.5% during the fourth quarter. Raymond James & Associates now owns 283,966 shares of the company’s stock worth $8,124,000 after purchasing an additional 19,872 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Rentokil Initial by 959.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,164 shares of the company’s stock worth $4,983,000 after purchasing an additional 157,722 shares in the last quarter. Iridian Asset Management LLC CT increased its stake in Rentokil Initial by 151.0% in the 4th quarter. Iridian Asset Management LLC CT now owns 247,130 shares of the company’s stock valued at $7,070,000 after buying an additional 148,656 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its position in shares of Rentokil Initial by 18.0% during the 4th quarter. NewEdge Wealth LLC now owns 13,270 shares of the company’s stock worth $380,000 after buying an additional 2,027 shares in the last quarter. 9.91% of the stock is owned by institutional investors.

Rentokil Initial Stock Up 0.8 %

Shares of RTO stock opened at $30.75 on Monday. The firm has a 50 day moving average of $29.02 and a 200-day moving average of $28.16. Rentokil Initial has a 52 week low of $23.39 and a 52 week high of $41.55.

Rentokil Initial Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 9th will be given a dividend of $0.2034 per share. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 9th.

Rentokil Initial Company Profile

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.