IFP Advisors Inc Acquires 687 Shares of Rentokil Initial PLC $RTO

IFP Advisors Inc grew its stake in Rentokil Initial PLC (NYSE:RTO) by 115.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,282 shares of the company’s stock after acquiring an additional 687 shares during the quarter. IFP Advisors Inc’s holdings in Rentokil Initial were worth $31,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Rentokil Initial by 44.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,930 shares of the company’s stock valued at $296,000 after purchasing an additional 3,993 shares during the last quarter. Wealthquest Corp acquired a new stake in shares of Rentokil Initial during the 1st quarter worth about $66,000. Balefire LLC boosted its holdings in shares of Rentokil Initial by 8.8% during the 1st quarter. Balefire LLC now owns 83,113 shares of the company’s stock worth $1,903,000 after buying an additional 6,750 shares during the period. Hicks Capital Management LLC bought a new stake in shares of Rentokil Initial during the 1st quarter worth about $644,000. Finally, Vontobel Holding Ltd. acquired a new position in Rentokil Initial in the 1st quarter valued at about $279,000. 9.91% of the stock is currently owned by institutional investors and hedge funds.

Rentokil Initial Stock Performance

NYSE:RTO opened at $27.07 on Thursday. Rentokil Initial PLC has a 1 year low of $19.60 and a 1 year high of $27.96. The stock has a market cap of $13.67 billion, a P/E ratio of 17.92, a P/E/G ratio of 4.70 and a beta of 0.95. The stock has a 50-day simple moving average of $25.37 and a 200-day simple moving average of $24.11.

Rentokil Initial Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, August 15th were issued a $0.2738 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Friday, August 15th. Rentokil Initial’s dividend payout ratio is presently 21.85%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RTO. Berenberg Bank upgraded shares of Rentokil Initial to a “strong sell” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rentokil Initial in a research note on Monday, July 21st. Sanford C. Bernstein upgraded shares of Rentokil Initial from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 7th. Finally, Zacks Research raised Rentokil Initial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.