Rentokil Initial PLC $RTO Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT decreased its stake in shares of Rentokil Initial PLC (NYSE:RTO) by 11.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 614,609 shares of the company’s stock after selling 82,603 shares during the quarter. Rentokil Initial comprises 6.1% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 5th biggest position. Iridian Asset Management LLC CT’s holdings in Rentokil Initial were worth $15,519,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Rentokil Initial during the third quarter worth approximately $306,000. Ethic Inc. lifted its holdings in Rentokil Initial by 52.6% during the 3rd quarter. Ethic Inc. now owns 13,247 shares of the company’s stock worth $334,000 after purchasing an additional 4,568 shares during the last quarter. Yousif Capital Management LLC bought a new stake in Rentokil Initial in the 3rd quarter valued at $205,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Rentokil Initial by 41.3% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 23,532 shares of the company’s stock valued at $594,000 after buying an additional 6,883 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Rentokil Initial by 38.9% in the 2nd quarter. Osaic Holdings Inc. now owns 8,886 shares of the company’s stock valued at $211,000 after buying an additional 2,490 shares in the last quarter. 9.91% of the stock is owned by institutional investors.

Rentokil Initial Stock Performance

Shares of Rentokil Initial stock opened at $31.66 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average of $28.43 and a 200-day moving average of $26.27. Rentokil Initial PLC has a 1-year low of $19.60 and a 1-year high of $31.81.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTO. Bank of America raised shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Thursday, December 18th. Jefferies Financial Group upgraded shares of Rentokil Initial to a “strong-buy” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Wednesday, October 8th. Morgan Stanley raised shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. Finally, Sanford C. Bernstein upgraded Rentokil Initial from an “underperform” rating to an “outperform” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

About Rentokil Initial

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.