Rentokil Initial (NYSE:RTO) Downgraded to “Neutral” at Redburn Atlantic

Redburn Atlantic lowered shares of Rentokil Initial (NYSE:RTO) from a buy rating to a neutral rating in a report released on Thursday, MarketBeat Ratings reports.

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

Rentokil Initial Stock Performance

Shares of NYSE:RTO opened at $24.78 on Thursday. The business has a 50 day simple moving average of $30.21 and a two-hundred day simple moving average of $29.12. Rentokil Initial has a 1 year low of $23.39 and a 1 year high of $37.44.

Rentokil Initial Cuts Dividend

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

Institutional Trading of Rentokil Initial

A number of hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. increased its position in Rentokil Initial by 81.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 968 shares of the company’s stock valued at $29,000 after purchasing an additional 434 shares during the period. Rothschild Investment LLC purchased a new position in Rentokil Initial during the second quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. raised its stake in Rentokil Initial by 403.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company’s stock worth $31,000 after buying an additional 843 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new position in Rentokil Initial in the second quarter worth approximately $38,000. Finally, Sunbelt Securities Inc. purchased a new stake in Rentokil Initial during the second quarter worth $40,000. 9.91% of the stock is owned by hedge funds and other institutional investors.

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.