NewEdge Wealth LLC Boosts Stock Position in Rentokil Initial plc (NYSE:RTO)

NewEdge Wealth LLC grew its position in shares of Rentokil Initial plc (NYSE:RTO) by 18.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,270 shares of the company’s stock after acquiring an additional 2,027 shares during the period. NewEdge Wealth LLC’s holdings in Rentokil Initial were worth $380,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC bought a new position in Rentokil Initial during the fourth quarter valued at approximately $206,000. Dimensional Fund Advisors LP purchased a new stake in shares of Rentokil Initial in the 4th quarter valued at $1,569,000. PNC Financial Services Group Inc. bought a new position in shares of Rentokil Initial during the 4th quarter valued at $157,000. Advisor Group Holdings Inc. purchased a new position in Rentokil Initial in the 4th quarter worth $881,000. Finally, Bank of America Corp DE bought a new stake in Rentokil Initial in the fourth quarter worth $21,535,000. 9.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RTO shares. Bank of America cut Rentokil Initial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $29.00 in a research note on Wednesday, January 24th. BNP Paribas raised Rentokil Initial from a “neutral” rating to an “outperform” rating in a research note on Monday, March 18th.

Rentokil Initial Trading Up 2.0 %

Rentokil Initial stock opened at $28.25 on Thursday. Rentokil Initial plc has a 1-year low of $23.39 and a 1-year high of $41.55. The firm has a 50-day moving average of $28.91 and a 200-day moving average of $28.61.

Rentokil Initial Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, April 5th will be given a dividend of $0.3784 per share. This is a positive change from Rentokil Initial’s previous semi-annual dividend of $0.18. The ex-dividend date of this dividend is Thursday, April 4th. This represents a yield of 1.6%.

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.