Rentokil Initial (NYSE:RTO) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Rentokil Initial (NYSE:RTO) in a research note published on Tuesday, StockNewsAPI reports. The firm issued a neutral rating on the stock.

RTO has been the subject of a number of other reports. Bank of America cut shares of Rentokil Initial from a buy rating to a neutral rating and reduced their target price for the company from $40.00 to $29.00 in a research report on Wednesday, January 24th. BNP Paribas upgraded shares of Rentokil Initial from a neutral rating to an outperform rating in a research report on Monday, March 18th.

Rentokil Initial Trading Down 2.2 %

Shares of NYSE RTO opened at $26.08 on Tuesday. The firm has a 50-day simple moving average of $28.98 and a 200-day simple moving average of $28.25. Rentokil Initial has a 52 week low of $23.39 and a 52 week high of $41.55.

Rentokil Initial Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, April 5th will be issued a $0.3784 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a dividend yield of 1.6%. This is a positive change from Rentokil Initial’s previous semi-annual dividend of $0.18.

Institutional Investors Weigh In On Rentokil Initial

A number of hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. purchased a new position in Rentokil Initial during the fourth quarter worth about $34,000. Quantbot Technologies LP purchased a new position in Rentokil Initial during the third quarter worth about $48,000. Allspring Global Investments Holdings LLC purchased a new position in Rentokil Initial during the first quarter worth about $47,000. Principal Securities Inc. purchased a new position in Rentokil Initial during the fourth quarter worth about $47,000. Finally, Golden State Equity Partners purchased a new position in Rentokil Initial during the third quarter worth about $202,000. Hedge funds and other institutional investors own 9.91% of the company’s stock.

About Rentokil Initial

Rentokil Initial plc, together with its subsidiaries, provides route-based services in North America, the United Kingdom, rest of Europe, Asia, the Pacific, and internationally. It offers a range of pest control services for rodents, and flying and crawling insects, as well as other forms of wildlife management for commercial customers.