Raymond James Financial Services Advisors Inc. Grows Stock Position in Rentokil Initial plc (NYSE:RTO)

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Rentokil Initial plc (NYSE:RTO) by 959.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,164 shares of the company’s stock after acquiring an additional 157,722 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Rentokil Initial were worth $4,983,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. DHJJ Financial Advisors Ltd. acquired a new position in Rentokil Initial during the 3rd quarter worth about $28,000. Steward Partners Investment Advisory LLC purchased a new stake in Rentokil Initial during the 4th quarter worth approximately $32,000. Belpointe Asset Management LLC lifted its holdings in Rentokil Initial by 291.2% during the 1st quarter. Belpointe Asset Management LLC now owns 1,205 shares of the company’s stock worth $44,000 after buying an additional 897 shares in the last quarter. Quantbot Technologies LP purchased a new position in Rentokil Initial in the 3rd quarter valued at approximately $48,000. Finally, Ancora Advisors LLC acquired a new position in shares of Rentokil Initial in the fourth quarter worth $58,000. 9.91% of the stock is owned by institutional investors and hedge funds.

Rentokil Initial Trading Down 1.1 %

Rentokil Initial stock opened at $29.47 on Friday. The company has a fifty day simple moving average of $28.44 and a 200-day simple moving average of $29.15. The stock has a market cap of $14.88 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 2.78 and a beta of 1.06. Rentokil Initial plc has a 12-month low of $23.39 and a 12-month 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 issued a dividend of $0.3784 per share. This represents a yield of 1.6%. This is an increase from Rentokil Initial’s previous semi-annual dividend of $0.18. The ex-dividend date of this dividend is Thursday, April 4th. Rentokil Initial’s payout ratio is 38.37%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RTO shares. BNP Paribas upgraded Rentokil Initial from a “neutral” rating to an “outperform” rating in a report on Monday, March 18th. Bank of America lowered shares of Rentokil Initial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $40.00 to $29.00 in a research note on Wednesday, January 24th.

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.