Rentokil Initial (NYSE:RTO) Shares Gap Up After Analyst Upgrade

Shares of Rentokil Initial PLC (NYSE:RTO) gapped up prior to trading on Thursday after UBS Group upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $31.73, but opened at $33.15. Rentokil Initial shares last traded at $32.7420, with a volume of 1,245,243 shares traded.

Several other brokerages have also recently commented on RTO. Deutsche Bank Aktiengesellschaft cut Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Zacks Research cut shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Rothschild & Co Redburn raised shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Rentokil Initial by 222.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company’s stock valued at $34,000 after acquiring an additional 802 shares during the last quarter. GAMMA Investing LLC grew its position in Rentokil Initial by 76.5% during the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock worth $36,000 after acquiring an additional 534 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Rentokil Initial during the 4th quarter valued at $39,000. Smartleaf Asset Management LLC raised its position in Rentokil Initial by 171.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock valued at $43,000 after purchasing an additional 1,089 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Rentokil Initial by 53.8% in the 3rd quarter. IFP Advisors Inc now owns 1,972 shares of the company’s stock valued at $50,000 after purchasing an additional 690 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

Rentokil Initial Trading Up 2.7%

The business has a 50 day simple moving average of $31.51 and a 200 day simple moving average of $28.53. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03.

Rentokil Initial Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 19th. Investors of record on Friday, April 10th will be given a dividend of $0.412 per share. The ex-dividend date is Friday, April 10th. This represents a yield of 266.0%.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.