Rentokil Initial (NYSE:RTO) Shares Gap Up to $25.61

Rentokil Initial plc (NYSE:RTOGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $25.61, but opened at $26.23. Rentokil Initial shares last traded at $26.33, with a volume of 116,184 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on RTO. Bank of America cut shares of Rentokil Initial from a “buy” rating to a “neutral” rating and reduced their price target 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 report on Monday, March 18th.

Get Our Latest Report on RTO

Rentokil Initial Stock Up 3.3 %

The firm’s fifty day moving average price is $28.93 and its 200-day moving average price is $28.52.

Rentokil Initial Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RTO. Steward Partners Investment Advisory LLC purchased a new stake in Rentokil Initial in the fourth quarter worth $32,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Rentokil Initial in the fourth quarter worth $34,000. Belpointe Asset Management LLC lifted its stake in Rentokil Initial by 291.2% in the first quarter. Belpointe Asset Management LLC now owns 1,205 shares of the company’s stock worth $44,000 after acquiring an additional 897 shares during the period. Principal Securities Inc. purchased a new stake in Rentokil Initial in the fourth quarter worth $47,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Rentokil Initial in the first quarter worth $47,000. Institutional investors own 9.91% of the company’s stock.

About Rentokil Initial

(Get Free Report)

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.

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