Rentokil Initial (NYSE:RTO) Hits New 1-Year Low - Here's What Happened

Rentokil Initial plc (NYSE:RTO - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $23.32 and last traded at $23.47, with a volume of 28215 shares trading hands. The stock had previously closed at $23.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein upgraded Rentokil Initial from an "underperform" rating to a "market perform" rating in a research note on Monday, July 22nd. UBS Group upgraded Rentokil Initial from a "sell" rating to a "neutral" rating in a research note on Monday, July 1st. Barclays upgraded shares of Rentokil Initial to a "strong-buy" rating in a research note on Friday, July 26th. Finally, Redburn Atlantic downgraded Rentokil Initial from a "buy" rating to a "neutral" rating in a research note on Thursday, September 19th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $29.00.

Rentokil Initial Price Performance

The business's 50 day moving average is $28.25 and its 200 day moving average is $28.43. The company has a current ratio of 1.04, a quick ratio of 0.96 and a debt-to-equity ratio of 0.75.

Rentokil Initial Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 9th were issued a dividend of $0.2034 per share. The ex-dividend date was Friday, August 9th. This represents a yield of 1.7%.

Institutional Investors Weigh In On Rentokil Initial

Several large investors have recently modified their holdings of RTO. Janney Montgomery Scott LLC bought a new position in shares of Rentokil Initial during the 1st quarter worth approximately $575,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Rentokil Initial by 403.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company's stock valued at $31,000 after purchasing an additional 843 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Rentokil Initial by 345,196.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,560,741 shares of the company's stock worth $47,056,000 after purchasing an additional 1,560,289 shares in the last quarter. Clearbridge Investments LLC grew its position in Rentokil Initial by 5.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,015,514 shares of the company's stock worth $60,768,000 after purchasing an additional 109,561 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in Rentokil Initial by 77.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 126,931 shares of the company's stock valued at $3,827,000 after purchasing an additional 55,396 shares in the last quarter. Institutional investors own 9.91% of the company's stock.

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.