Gabelli Funds LLC Cuts Position in Rentokil Initial PLC $RTO

Gabelli Funds LLC decreased its holdings in shares of Rentokil Initial PLC (NYSE:RTO) by 56.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,500 shares of the company’s stock after selling 44,000 shares during the period. Gabelli Funds LLC’s holdings in Rentokil Initial were worth $871,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RTO. Envestnet Asset Management Inc. raised its stake in Rentokil Initial by 105.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock valued at $39,232,000 after buying an additional 798,660 shares during the last quarter. Liberty One Investment Management LLC bought a new stake in Rentokil Initial in the third quarter worth $39,946,000. Clark Estates Inc. NY purchased a new stake in shares of Rentokil Initial in the third quarter worth $8,332,000. Nichols & Pratt Advisers LLP MA increased its holdings in shares of Rentokil Initial by 5.9% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 871,415 shares of the company’s stock valued at $22,003,000 after acquiring an additional 48,184 shares in the last quarter. Finally, Advisor OS LLC bought a new position in shares of Rentokil Initial during the third quarter valued at $1,014,000. 9.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RTO has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Bank of America upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Thursday, December 18th. Rothschild & Co Redburn upgraded shares of Rentokil Initial from a “sell” rating to a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Rentokil Initial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Zacks Research downgraded Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Rentokil Initial currently has an average rating of “Hold” and an average price target of $34.50.

Rentokil Initial Trading Up 2.7%

Shares of RTO stock opened at $31.75 on Thursday. 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 firm’s 50 day moving average is $31.45 and its 200 day moving average is $28.51. Rentokil Initial PLC has a 12-month low of $19.60 and a 12-month high of $33.46.

Rentokil Initial Announces Dividend

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

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.