Oppenheimer Asset Management Inc. Sells 9,695 Shares of Rentokil Initial plc (NYSE:RTO)

Oppenheimer Asset Management Inc. lowered its stake in shares of Rentokil Initial plc (NYSE:RTO) by 29.7% in the third quarter, Holdings Channel.com reports. The firm owned 22,978 shares of the company’s stock after selling 9,695 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Rentokil Initial were worth $573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. bought a new position in shares of Rentokil Initial in the third quarter valued at approximately $334,000. Assetmark Inc. bought a new position in Rentokil Initial during the 3rd quarter valued at $36,000. River Road Asset Management LLC purchased a new position in Rentokil Initial during the 3rd quarter worth $44,055,000. Stephens Inc. AR grew its stake in shares of Rentokil Initial by 7.4% in the 3rd quarter. Stephens Inc. AR now owns 406,486 shares of the company’s stock worth $10,134,000 after acquiring an additional 27,836 shares in the last quarter. Finally, Iridian Asset Management LLC CT raised its holdings in shares of Rentokil Initial by 32.6% in the third quarter. Iridian Asset Management LLC CT now owns 719,795 shares of the company’s stock valued at $17,944,000 after purchasing an additional 177,101 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

Rentokil Initial Stock Performance

Shares of RTO stock opened at $26.02 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 1.04. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 7.01 and a beta of 1.09. Rentokil Initial plc has a 52 week low of $22.40 and a 52 week high of $34.07. The firm’s 50-day simple moving average is $25.06 and its two-hundred day simple moving average is $27.94.

Analysts Set New Price Targets

Several research analysts recently weighed in on RTO shares. Barclays upgraded shares of Rentokil Initial to a “strong-buy” rating in a report on Friday, July 26th. Redburn Atlantic downgraded Rentokil Initial from a “buy” rating to a “neutral” rating in a research report on Thursday, September 19th. 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 stock. According to MarketBeat, Rentokil Initial currently has an average rating of “Hold” and an average target price of $29.00.

About Rentokil Initial

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.