Rentokil Initial PLC (NYSE:RTO) Short Interest Down 40.7% in March

Rentokil Initial PLC (NYSE:RTO) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 2,761,212 shares, a decline of 40.7% from the March 15th total of 4,659,343 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,379,419 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Trading of Rentokil Initial

A number of institutional investors and hedge funds have recently modified their holdings of RTO. Caitong International Asset Management Co. Ltd increased its holdings in shares of Rentokil Initial by 222.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,163 shares of the company’s stock worth $34,000 after purchasing an additional 802 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Rentokil Initial by 76.5% in the 4th quarter. GAMMA Investing LLC now owns 1,232 shares of the company’s stock worth $36,000 after purchasing an additional 534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Rentokil Initial in the 4th quarter worth $39,000. Smartleaf Asset Management LLC increased its holdings in shares of Rentokil Initial by 171.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after purchasing an additional 1,089 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Rentokil Initial by 53.8% in the 3rd quarter. IFP Advisors Inc now owns 1,972 shares of the company’s stock worth $50,000 after purchasing an additional 690 shares in the last quarter. Institutional investors own 9.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley upgraded Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Bank of America upgraded Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wall Street Zen cut Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Sunday, April 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Rentokil Initial presently has an average rating of “Moderate Buy” and an average price target of $34.50.

Rentokil Initial Trading Down 0.4%

Shares of Rentokil Initial stock traded down $0.16 on Wednesday, reaching $34.37. The company’s stock had a trading volume of 1,096,972 shares, compared to its average volume of 1,045,261. The firm’s fifty day simple moving average is $31.76 and its two-hundred day simple moving average is $29.83. Rentokil Initial has a 52 week low of $21.68 and a 52 week high of $34.67. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.76.

Rentokil Initial Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Friday, April 10th will be issued a $0.412 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a dividend yield of 245.0%.

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.