Rentokil Initial (NYSE:RTO) Shares Gap Up to $25.61

Rentokil Initial plc (NYSE:RTO) shares gapped up before the market opened on Friday . The stock had previously closed at $25.61, but opened at $26.23. Rentokil Initial shares last traded at $26.33, with a volume of 116,184 shares.

Wall Street Analysts Forecast Growth

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

Rentokil Initial Trading Up 3.3 %

The company has a 50-day moving average price of $28.93 and a two-hundred day moving average price of $28.52.

Rentokil Initial Increases Dividend

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

Hedge Funds Weigh In On Rentokil Initial

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in Rentokil Initial in the 4th quarter valued at $32,000. Benjamin F. Edwards & Company Inc. bought a new position in Rentokil Initial in the 4th quarter valued at $34,000. Belpointe Asset Management LLC grew its position in Rentokil Initial by 291.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,205 shares of the company’s stock valued at $44,000 after acquiring an additional 897 shares during the last quarter. Principal Securities Inc. bought a new position in Rentokil Initial in the 4th quarter valued at $47,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Rentokil Initial in the 1st quarter valued at $47,000. Institutional investors 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.