Rentokil Initial plc (NYSE:RTO) Receives $29.00 Average PT from Brokerages

Shares of Rentokil Initial plc (NYSE:RTO) have earned a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $29.00.

RTO has been the topic of several research reports. UBS Group upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Monday, July 1st. Barclays raised Rentokil Initial to a “strong-buy” rating in a report on Friday, July 26th. Finally, Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to a “market perform” rating in a research report on Monday, July 22nd.

Rentokil Initial Stock Performance

Shares of Rentokil Initial stock opened at $24.67 on Tuesday. Rentokil Initial has a one year low of $23.39 and a one year high of $37.62. The stock’s 50-day moving average is $30.89 and its 200 day moving average is $29.27.

Rentokil Initial Cuts Dividend

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

Institutional Trading of Rentokil Initial

Several large investors have recently modified their holdings of RTO. Norges Bank purchased a new stake in Rentokil Initial in the fourth quarter worth about $77,547,000. Lazard Asset Management LLC increased its holdings in shares of Rentokil Initial by 345,196.7% during the first quarter. Lazard Asset Management LLC now owns 1,560,741 shares of the company’s stock valued at $47,056,000 after acquiring an additional 1,560,289 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Rentokil Initial by 130.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,839,135 shares of the company’s stock worth $54,530,000 after buying an additional 1,041,860 shares during the last quarter. Gates Capital Management Inc. lifted its position in Rentokil Initial by 11.4% in the 4th quarter. Gates Capital Management Inc. now owns 5,155,193 shares of the company’s stock valued at $147,490,000 after acquiring an additional 528,409 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Rentokil Initial by 13.8% during the fourth quarter. Schroder Investment Management Group now owns 2,025,479 shares of the company’s stock valued at $57,949,000 after purchasing an additional 246,253 shares in the last quarter. 9.91% of the stock is owned by institutional investors.

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.