Rentokil Initial plc (NYSE:RTO) Receives $29.00 Average Price Target from Brokerages

Shares of Rentokil Initial plc (NYSE:RTO) have been given an average rating of “Hold” by the seven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $29.00.

A number of equities research analysts have weighed in on RTO shares. JPMorgan Chase & Co. initiated coverage on shares of Rentokil Initial in a report on Tuesday, April 23rd. They issued a “neutral” rating on the stock. UBS Group upgraded Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Monday, July 1st. Barclays upgraded Rentokil Initial to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Sanford C. Bernstein raised Rentokil Initial from an “underperform” rating to a “market perform” rating in a research note on Monday, July 22nd.

Institutional Trading of Rentokil Initial

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Rentokil Initial by 0.7% during the first quarter. Janus Henderson Group PLC now owns 16,139,724 shares of the company’s stock valued at $486,610,000 after purchasing an additional 105,248 shares in the last quarter. Gates Capital Management Inc. raised its position in Rentokil Initial by 11.4% in the 4th quarter. Gates Capital Management Inc. now owns 5,155,193 shares of the company’s stock worth $147,490,000 after buying an additional 528,409 shares during the last quarter. Brown Advisory Inc. lifted its stake in Rentokil Initial by 2.1% during the 4th quarter. Brown Advisory Inc. now owns 3,884,020 shares of the company’s stock valued at $111,122,000 after acquiring an additional 81,134 shares during the period. Norges Bank purchased a new stake in shares of Rentokil Initial during the 4th quarter valued at about $77,547,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Rentokil Initial by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 2,025,479 shares of the company’s stock valued at $57,949,000 after acquiring an additional 246,253 shares during the last quarter. Institutional investors own 9.91% of the company’s stock.

Rentokil Initial Trading Down 0.4 %

Shares of Rentokil Initial stock opened at $31.71 on Friday. Rentokil Initial has a 1 year low of $23.39 and a 1 year high of $38.43. The company has a 50-day moving average of $30.29 and a 200 day moving average of $28.71.

Rentokil Initial Cuts Dividend

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

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.