Analysts Set Rentokil Initial plc (NYSE:RTO) PT at $29.00

Rentokil Initial plc (NYSE:RTO) has been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $29.00.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Rentokil Initial in a research note on Tuesday, April 23rd. They issued a “neutral” rating for the company. UBS Group raised shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Monday, July 1st. Finally, Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to a “market perform” rating in a research note on Monday, July 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Iridian Asset Management LLC CT increased its stake in shares of Rentokil Initial by 47.7% during the 2nd quarter. Iridian Asset Management LLC CT now owns 542,694 shares of the company’s stock valued at $16,091,000 after acquiring an additional 175,304 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Rentokil Initial during the 2nd quarter valued at about $382,000. Allspring Global Investments Holdings LLC increased its stake in shares of Rentokil Initial by 82.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,876 shares of the company’s stock valued at $85,000 after acquiring an additional 1,303 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Rentokil Initial by 35.7% during the 2nd quarter. Verdence Capital Advisors LLC now owns 21,452 shares of the company’s stock valued at $636,000 after acquiring an additional 5,649 shares during the last quarter. Finally, Nichols & Pratt Advisers LLP MA increased its stake in shares of Rentokil Initial by 8.0% during the 2nd quarter. Nichols & Pratt Advisers LLP MA now owns 665,984 shares of the company’s stock valued at $19,746,000 after acquiring an additional 49,340 shares during the last quarter. Institutional investors and hedge funds own 9.91% of the company’s stock.

Rentokil Initial Trading Up 0.8 %

Rentokil Initial stock opened at $30.75 on Monday. The firm’s 50-day simple moving average is $29.02 and its 200 day simple moving average is $28.18. Rentokil Initial has a 52 week low of $23.39 and a 52 week high of $41.55.

Rentokil Initial Cuts Dividend

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