Bank of New York Mellon Corp Cuts Stock Position in Rentokil Initial plc (NYSE:RTO)

Bank of New York Mellon Corp cut its position in Rentokil Initial plc (NYSE:RTO - Free Report) by 37.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,557 shares of the company's stock after selling 227,314 shares during the quarter. Bank of New York Mellon Corp owned about 0.08% of Rentokil Initial worth $9,712,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Rentokil Initial by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 16,990,179 shares of the company's stock valued at $423,573,000 after purchasing an additional 617,227 shares during the period. Harvey Partners LLC raised its stake in shares of Rentokil Initial by 48.3% during the 3rd quarter. Harvey Partners LLC now owns 1,430,000 shares of the company's stock valued at $35,650,000 after purchasing an additional 465,500 shares during the period. Alberta Investment Management Corp raised its stake in shares of Rentokil Initial by 21.6% during the 4th quarter. Alberta Investment Management Corp now owns 1,312,471 shares of the company's stock valued at $33,232,000 after purchasing an additional 232,871 shares during the period. MIG Capital LLC raised its stake in shares of Rentokil Initial by 34.3% during the 3rd quarter. MIG Capital LLC now owns 1,195,997 shares of the company's stock valued at $29,816,000 after purchasing an additional 305,374 shares during the period. Finally, Iridian Asset Management LLC CT raised its stake in shares of Rentokil Initial by 1.2% during the 4th quarter. Iridian Asset Management LLC CT now owns 728,764 shares of the company's stock valued at $18,452,000 after purchasing an additional 8,969 shares during the period. 9.91% of the stock is currently owned by institutional investors.

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Rentokil Initial Price Performance

Rentokil Initial stock traded down $0.25 during midday trading on Tuesday, hitting $21.91. 483,116 shares of the company's stock were exchanged, compared to its average volume of 753,663. Rentokil Initial plc has a 52-week low of $20.60 and a 52-week high of $34.07. The stock has a 50-day moving average price of $24.43 and a two-hundred day moving average price of $25.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 1.04. The company has a market cap of $11.06 billion, a P/E ratio of 14.51, a PEG ratio of 7.95 and a beta of 1.14.

Rentokil Initial Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be given a dividend of $0.3825 per share. This represents a yield of 2.4%. The ex-dividend date of this dividend is Friday, April 4th. Rentokil Initial's payout ratio is 43.71%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Rentokil Initial in a research note on Friday, March 7th. Citigroup upgraded Rentokil Initial to a "strong-buy" rating in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Rentokil Initial presently has a consensus rating of "Moderate Buy".

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.