Rentokil Initial (NYSE:RTO) Reaches New 52-Week Low – Here’s Why

Rentokil Initial plc (NYSE:RTO)’s stock price reached a new 52-week low on Monday . The company traded as low as $23.32 and last traded at $23.47, with a volume of 28215 shares changing hands. The stock had previously closed at $23.37.

Wall Street Analyst Weigh In

RTO has been the subject of several recent analyst reports. UBS Group raised shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a research report on Monday, July 1st. Redburn Atlantic downgraded Rentokil Initial from a “buy” rating to a “neutral” rating in a report on Thursday, September 19th. Barclays raised Rentokil Initial to a “strong-buy” rating in a report on Friday, July 26th. Finally, Sanford C. Bernstein raised Rentokil Initial from an “underperform” rating to a “market perform” rating in a research note on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

Rentokil Initial Stock Down 2.0 %

The stock has a market capitalization of $11.65 billion, a P/E ratio of 15.39, a P/E/G ratio of 3.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 0.96. The firm has a 50-day simple moving average of $27.99 and a 200 day simple moving average of $28.33.

Rentokil Initial Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 9th were issued a dividend of $0.2034 per share. This represents a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 9th. Rentokil Initial’s payout ratio is 24.00%.

Hedge Funds Weigh In On Rentokil Initial

Hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC raised its position in Rentokil Initial by 15.2% during the 1st quarter. Park Avenue Securities LLC now owns 13,376 shares of the company’s stock worth $403,000 after purchasing an additional 1,764 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Rentokil Initial in the first quarter valued at approximately $47,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Rentokil Initial by 21.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 78,073 shares of the company’s stock worth $2,354,000 after purchasing an additional 13,673 shares during the last quarter. Norden Group LLC acquired a new position in shares of Rentokil Initial in the 1st quarter worth approximately $1,495,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Rentokil Initial in the 1st quarter valued at $575,000. Institutional investors and hedge funds own 9.91% of the company’s stock.

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.