Rentokil Initial PLC $RTO Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of Rentokil Initial PLC (NYSE:RTO) by 501.4% during the third quarter, HoldingsChannel.com reports. The firm owned 560,332 shares of the company’s stock after purchasing an additional 467,167 shares during the period. JPMorgan Chase & Co.’s holdings in Rentokil Initial were worth $14,148,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. grew its stake in Rentokil Initial by 105.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,553,740 shares of the company’s stock valued at $39,232,000 after acquiring an additional 798,660 shares during the period. Liberty One Investment Management LLC acquired a new position in Rentokil Initial during the third quarter worth $39,946,000. Nichols & Pratt Advisers LLP MA lifted its holdings in 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 purchasing an additional 48,184 shares in the last quarter. Sunriver Management LLC grew its position in shares of 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 purchasing an additional 1,102,353 shares during the period. Finally, GWN Securities Inc. purchased a new stake in shares of Rentokil Initial during the third quarter worth about $2,340,000. 9.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RTO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered shares of Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Bank of America raised Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Thursday, December 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research report on Thursday, January 22nd. Morgan Stanley upgraded Rentokil Initial from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. Finally, Rothschild & Co Redburn lowered shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Rentokil Initial presently has an average rating of “Hold” and an average target price of $34.00.

Rentokil Initial Stock Performance

NYSE RTO opened at $28.74 on Thursday. The stock’s fifty day moving average is $31.27 and its two-hundred day moving average is $28.25. 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 fifty-two week low of $19.60 and a fifty-two week high of $33.46.

Rentokil Initial Company 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.