Golden State Equity Partners Increases Stock Holdings in Rentokil Initial plc (NYSE:RTO)

Golden State Equity Partners increased its holdings in shares of Rentokil Initial plc (NYSE:RTO) by 76.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,608 shares of the company’s stock after buying an additional 4,154 shares during the period. Golden State Equity Partners’ holdings in Rentokil Initial were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RTO. Brown Advisory Inc. lifted its holdings in Rentokil Initial by 3.2% in the 3rd quarter. Brown Advisory Inc. now owns 3,802,886 shares of the company’s stock valued at $140,897,000 after purchasing an additional 116,496 shares in the last quarter. FMR LLC lifted its holdings in Rentokil Initial by 6.9% in the 3rd quarter. FMR LLC now owns 923,730 shares of the company’s stock valued at $34,224,000 after purchasing an additional 60,018 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Rentokil Initial by 43.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 545,152 shares of the company’s stock valued at $20,198,000 after purchasing an additional 163,796 shares in the last quarter. Nichols & Pratt Advisers LLP MA lifted its holdings in Rentokil Initial by 5.8% in the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 423,823 shares of the company’s stock valued at $15,606,000 after purchasing an additional 23,168 shares in the last quarter. Finally, Motley Fool Asset Management LLC purchased a new position in Rentokil Initial in the 4th quarter valued at $8,726,000. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Rentokil Initial Stock Up 0.6 %

Shares of RTO opened at $26.23 on Friday. Rentokil Initial plc has a 52-week low of $23.39 and a 52-week high of $41.55. The stock has a fifty day simple moving average of $28.96 and a two-hundred day simple moving average of $28.12.

Rentokil Initial Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, April 5th will be paid a $0.3784 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Rentokil Initial’s previous semi-annual dividend of $0.18. This represents a dividend yield of 1.6%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RTO shares. BNP Paribas upgraded Rentokil Initial from a “neutral” rating to an “outperform” rating in a report on Monday, March 18th. Bank of America downgraded Rentokil Initial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $40.00 to $29.00 in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. began coverage on Rentokil Initial in a research note on Tuesday, April 23rd. They issued a “neutral” rating for the company.

Rentokil Initial 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.