Rentokil Initial plc (NYSE:RTO) Sees Large Drop in Short Interest

Rentokil Initial plc (NYSE:RTO) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,750,000 shares, a decrease of 40.1% from the February 28th total of 2,920,000 shares. Based on an average daily trading volume, of 727,000 shares, the short-interest ratio is currently 2.4 days. Approximately 0.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rentokil Initial in a research report on Friday, March 7th. Citigroup upgraded shares of Rentokil Initial to a “strong-buy” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rentokil Initial currently has an average rating of “Moderate Buy”.

Rentokil Initial Stock Performance

RTO traded down $0.24 on Friday, hitting $22.92. The company had a trading volume of 772,779 shares, compared to its average volume of 727,189. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 7.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 0.96. The company’s fifty day moving average price is $24.20 and its 200 day moving average price is $24.81. Rentokil Initial has a 1-year low of $20.60 and a 1-year high of $34.07.

Rentokil Initial Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be issued a dividend of $0.3825 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, April 4th. Rentokil Initial’s dividend payout ratio is currently 43.71%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RTO. Keystone Financial Services bought a new stake in Rentokil Initial during the fourth quarter valued at about $236,000. Janus Henderson Group PLC boosted its stake in Rentokil Initial by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 16,990,179 shares of the company’s stock valued at $423,573,000 after purchasing an additional 617,227 shares during the period. ABS Direct Equity Fund LLC grew its holdings in Rentokil Initial by 28.1% in the 4th quarter. ABS Direct Equity Fund LLC now owns 160,000 shares of the company’s stock valued at $4,051,000 after buying an additional 35,100 shares during the last quarter. Stephens Inc. AR increased its position in Rentokil Initial by 6.1% in the 4th quarter. Stephens Inc. AR now owns 431,185 shares of the company’s stock worth $10,918,000 after buying an additional 24,699 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Rentokil Initial during the fourth quarter worth approximately $257,000. Institutional investors 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.