Voss Capital LP Sells 490,453 Shares of Rentokil Initial PLC $RTO

Voss Capital LP decreased its position in shares of Rentokil Initial PLC (NYSE:RTO) by 30.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,100,000 shares of the company’s stock after selling 490,453 shares during the quarter. Rentokil Initial comprises 1.3% of Voss Capital LP’s holdings, making the stock its 20th largest holding. Voss Capital LP’s holdings in Rentokil Initial were worth $27,775,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Liberty One Investment Management LLC bought a new position in shares of Rentokil Initial in the 3rd quarter worth $39,946,000. QVIDTVM Management LLC increased its stake in Rentokil Initial by 669.1% during 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 in the last quarter. Sunriver Management LLC increased its stake in 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 in the last quarter. Bank of America Corp DE raised its holdings in Rentokil Initial by 143.5% during the second quarter. Bank of America Corp DE now owns 1,821,709 shares of the company’s stock worth $43,721,000 after buying an additional 1,073,471 shares during the last quarter. Finally, Optiver Holding B.V. raised its holdings in Rentokil Initial by 121.1% during the third quarter. Optiver Holding B.V. now owns 1,466,714 shares of the company’s stock worth $37,035,000 after buying an additional 803,280 shares during the last quarter. 9.91% of the stock is owned by institutional investors and hedge funds.

Rentokil Initial Stock Performance

NYSE RTO opened at $32.39 on Wednesday. Rentokil Initial PLC has a 52-week low of $19.60 and a 52-week high of $33.47. The company has a 50-day simple moving average of $31.62 and a 200 day simple moving average of $28.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.03 and a current ratio of 1.12.

Rentokil Initial Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RTO shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a report on Thursday, January 22nd. Zacks Research cut shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Thursday, December 18th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rentokil Initial in a report on Friday, November 21st. Finally, Rothschild & Co Redburn raised Rentokil Initial from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Profile

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.