ABC Arbitrage SA Cuts Stock Position in Rentokil Initial PLC $RTO

ABC Arbitrage SA reduced its holdings in shares of Rentokil Initial PLC (NYSE:RTO) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 434,572 shares of the company’s stock after selling 24,698 shares during the period. Rentokil Initial comprises 1.1% of ABC Arbitrage SA’s investment portfolio, making the stock its 27th largest holding. ABC Arbitrage SA owned approximately 0.09% of Rentokil Initial worth $10,973,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. IFP Advisors Inc grew its position in shares of Rentokil Initial by 115.5% during the second quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock worth $31,000 after buying an additional 687 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Rentokil Initial by 171.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after acquiring an additional 1,089 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Rentokil Initial by 40.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,582 shares of the company’s stock worth $110,000 after acquiring an additional 1,309 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Rentokil Initial by 88.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,723 shares of the company’s stock worth $113,000 after acquiring an additional 2,213 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Rentokil Initial by 24.3% in the 3rd quarter. Versant Capital Management Inc now owns 6,914 shares of the company’s stock valued at $175,000 after purchasing an additional 1,352 shares during the last quarter. 9.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RTO shares. Bank of America raised Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Thursday, December 18th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a research note on Friday, November 21st. Morgan Stanley upgraded shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Finally, Rothschild & Co Redburn cut shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Rentokil Initial Stock Up 0.1%

Shares of Rentokil Initial stock opened at $32.39 on Wednesday. Rentokil Initial PLC has a 52-week low of $19.60 and a 52-week high of $33.46. The company’s 50-day simple moving average is $30.67 and its 200-day simple moving average is $27.55. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79.

Rentokil Initial Company Profile

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.