NewEdge Wealth LLC Purchases 2,027 Shares of Rentokil Initial plc (NYSE:RTO)

NewEdge Wealth LLC raised its position in shares of Rentokil Initial plc (NYSE:RTO) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,270 shares of the company’s stock after purchasing an additional 2,027 shares during the period. NewEdge Wealth LLC’s holdings in Rentokil Initial were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTO. Sequoia Financial Advisors LLC acquired a new position in shares of Rentokil Initial during the 4th quarter worth $206,000. Dimensional Fund Advisors LP acquired a new position in Rentokil Initial during the fourth quarter worth about $1,569,000. PNC Financial Services Group Inc. bought a new position in shares of Rentokil Initial in the fourth quarter worth about $157,000. Advisor Group Holdings Inc. bought a new position in shares of Rentokil Initial in the fourth quarter worth about $881,000. Finally, Bank of America Corp DE acquired a new stake in shares of Rentokil Initial in the 4th quarter valued at approximately $21,535,000. 9.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BNP Paribas raised shares of Rentokil Initial from a “neutral” rating to an “outperform” rating in a research note on Monday, March 18th. Bank of America cut Rentokil Initial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $29.00 in a research note on Wednesday, January 24th.

Rentokil Initial Stock Up 2.0 %

Rentokil Initial stock opened at $28.25 on Thursday. The business has a 50 day moving average of $28.91 and a 200-day moving average of $28.61. Rentokil Initial plc has a 1 year low of $23.39 and a 1 year high of $41.55.

Rentokil Initial Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, April 5th will be given a $0.3784 dividend. This is a boost from Rentokil Initial’s previous semi-annual dividend of $0.18. This represents a yield of 1.6%. The ex-dividend date is Thursday, April 4th.

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.