Maridea Wealth Management LLC Buys Shares of 49,809 Rentokil Initial PLC $RTO

Maridea Wealth Management LLC bought a new position in shares of Rentokil Initial PLC (NYSE:RTO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 49,809 shares of the company’s stock, valued at approximately $1,334,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Liberty One Investment Management LLC bought a new stake in shares of Rentokil Initial in the 3rd quarter valued at about $39,946,000. QVIDTVM Management LLC boosted its stake in Rentokil Initial by 669.1% in the third quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock valued at $43,038,000 after acquiring an additional 1,482,865 shares in the last quarter. Summitry LLC acquired a new position in shares of Rentokil Initial during the second quarter worth $27,539,000. Sunriver Management LLC lifted its holdings in shares of Rentokil Initial by 115.5% during the 2nd quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock valued at $49,371,000 after purchasing an additional 1,102,353 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Rentokil Initial by 143.5% during the 2nd quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock valued at $43,721,000 after purchasing an additional 1,073,471 shares during the last quarter. Institutional investors own 9.91% of the company’s stock.

Rentokil Initial Price Performance

Rentokil Initial stock opened at $30.83 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12. The business has a 50 day simple moving average of $30.94 and a 200-day simple moving average of $27.80. Rentokil Initial PLC has a 12 month low of $19.60 and a 12 month high of $33.46.

Analyst Ratings Changes

RTO has been the topic of several recent analyst reports. Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Morgan Stanley raised shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a research note on Friday, November 21st. Finally, Rothschild & Co Redburn downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.