Redburn Atlantic Downgrades Rentokil Initial (NYSE:RTO) to Neutral

Redburn Atlantic lowered shares of Rentokil Initial (NYSE:RTO) from a buy rating to a neutral rating in a research report sent to investors on Thursday, Marketbeat.com reports.

A number of other brokerages also recently weighed in on RTO. UBS Group raised shares of Rentokil Initial from a sell rating to a neutral rating in a report on Monday, July 1st. Sanford C. Bernstein upgraded shares of Rentokil Initial from an underperform rating to a market perform rating in a report on Monday, July 22nd. Finally, Barclays raised Rentokil Initial to a strong-buy rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $29.00.

Rentokil Initial Price Performance

RTO opened at $24.50 on Thursday. The stock’s fifty day moving average is $30.09 and its 200-day moving average is $29.12. Rentokil Initial has a one year low of $23.39 and a one year high of $37.44.

Rentokil Initial Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 9th were issued a $0.2034 dividend. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 9th.

Institutional Investors Weigh In On Rentokil Initial

Large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Rentokil Initial during the 2nd quarter worth approximately $870,000. Truist Financial Corp grew its holdings in shares of Rentokil Initial by 2.6% during the second quarter. Truist Financial Corp now owns 16,008 shares of the company’s stock valued at $475,000 after buying an additional 401 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Rentokil Initial during the second quarter valued at $40,000. Northwestern Mutual Wealth Management Co. raised its position in Rentokil Initial by 403.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company’s stock valued at $31,000 after buying an additional 843 shares during the period. Finally, Creative Planning lifted its stake in Rentokil Initial by 38.1% in the 2nd quarter. Creative Planning now owns 45,952 shares of the company’s stock worth $1,362,000 after acquiring an additional 12,683 shares in the last quarter. Institutional investors and hedge funds 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.