Two Creeks Capital Management LP Acquires 259,088 Shares of Rentokil Initial PLC $RTO

Two Creeks Capital Management LP lifted its holdings in shares of Rentokil Initial PLC (NYSE:RTO) by 325.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 338,678 shares of the company’s stock after acquiring an additional 259,088 shares during the period. Rentokil Initial accounts for about 0.6% of Two Creeks Capital Management LP’s portfolio, making the stock its 24th biggest position. Two Creeks Capital Management LP’s holdings in Rentokil Initial were worth $8,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sunriver Management LLC boosted its stake in Rentokil Initial by 115.5% in the second quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock valued at $49,371,000 after acquiring an additional 1,102,353 shares during the last quarter. Bank of America Corp DE raised its position 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 acquiring an additional 1,073,471 shares during the last quarter. QVIDTVM Management LLC lifted its stake in shares of Rentokil Initial by 669.1% in the 3rd quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock valued at $43,038,000 after purchasing an additional 1,482,865 shares during the period. Liberty One Investment Management LLC acquired a new position in shares of Rentokil Initial in the 3rd quarter valued at $39,946,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Rentokil Initial by 105.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock worth $39,232,000 after purchasing an additional 798,660 shares during the last quarter. 9.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RTO shares. Oppenheimer lifted their price objective on Rentokil Initial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Research cut Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rentokil Initial in a research report on Friday, November 21st. Rothschild & Co Redburn raised Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rentokil Initial has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Trading Down 0.8%

Shares of RTO stock opened at $32.33 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03. Rentokil Initial PLC has a 12-month low of $19.60 and a 12-month high of $33.47. The firm has a fifty day moving average of $31.56 and a 200-day moving average of $28.59.

Rentokil Initial Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Friday, April 10th will be paid a $0.412 dividend. This represents a yield of 266.0%. The ex-dividend date of this dividend is Friday, April 10th.

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.