QRG Capital Management Inc. Acquires Shares of 34,278 Rentokil Initial PLC $RTO

QRG Capital Management Inc. acquired a new stake in Rentokil Initial PLC (NYSE:RTO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 34,278 shares of the company’s stock, valued at approximately $1,079,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Jane Street Group LLC lifted its holdings in Rentokil Initial by 292.0% during the 1st quarter. Jane Street Group LLC now owns 117,341 shares of the company’s stock valued at $2,687,000 after purchasing an additional 87,405 shares during the last quarter. Creative Planning acquired a new position in shares of Rentokil Initial in the second quarter valued at $393,000. JPMorgan Chase & Co. raised its position in shares of Rentokil Initial by 2,549.7% in the second quarter. JPMorgan Chase & Co. now owns 93,165 shares of the company’s stock valued at $2,236,000 after purchasing an additional 89,649 shares during the period. Russell Investments Group Ltd. raised its position in shares of Rentokil Initial by 40.0% in the second quarter. Russell Investments Group Ltd. now owns 4,582 shares of the company’s stock valued at $110,000 after purchasing an additional 1,309 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Rentokil Initial by 19.7% during the 2nd quarter. M&T Bank Corp now owns 10,557 shares of the company’s stock worth $253,000 after buying an additional 1,736 shares during the last quarter. 9.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RTO. Zacks Research lowered shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research note on Monday, June 15th. UBS Group upgraded shares of Rentokil Initial from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rentokil Initial in a research report on Wednesday, June 24th. The Goldman Sachs Group upgraded Rentokil Initial from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, Wall Street Zen cut Rentokil Initial from a “buy” rating to a “hold” rating in a report on Sunday, April 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Rentokil Initial Price Performance

NYSE:RTO opened at $30.11 on Thursday. Rentokil Initial PLC has a 52 week low of $22.72 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. The firm’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $31.37.

About Rentokil Initial

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.