Gabelli Funds LLC Buys 15,000 Shares of Rentokil Initial plc (NYSE:RTO)

Gabelli Funds LLC grew its stake in Rentokil Initial plc (NYSE:RTO) by 42.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after acquiring an additional 15,000 shares during the quarter. Gabelli Funds LLC’s holdings in Rentokil Initial were worth $1,508,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its holdings in Rentokil Initial by 81.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 968 shares of the company’s stock worth $29,000 after acquiring an additional 434 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Rentokil Initial in the fourth quarter worth $34,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Rentokil Initial in the first quarter worth $47,000. Principal Securities Inc. purchased a new position in shares of Rentokil Initial in the fourth quarter worth $47,000. Finally, SYSTM Wealth Solutions LLC raised its stake in shares of Rentokil Initial by 168.5% in the first quarter. SYSTM Wealth Solutions LLC now owns 3,977 shares of the company’s stock worth $120,000 after purchasing an additional 2,496 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RTO. JPMorgan Chase & Co. began coverage on Rentokil Initial in a research note on Tuesday, April 23rd. They issued a “neutral” rating for the company. UBS Group upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Monday, July 1st. Finally, Sanford C. Bernstein upgraded Rentokil Initial from an “underperform” rating to a “market perform” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.00.

Rentokil Initial Stock Up 0.8 %

Rentokil Initial stock traded up $0.24 during mid-day trading on Friday, reaching $30.75. 631,442 shares of the stock traded hands, compared to its average volume of 515,890. Rentokil Initial plc has a 12-month low of $23.39 and a 12-month high of $41.55. The business’s 50-day moving average is $29.02 and its 200-day moving average is $28.17.

Rentokil Initial Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 9th will be given a dividend of $0.2034 per share. This represents a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 9th.

About Rentokil Initial

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.