Synovus Financial Corp Increases Position in Rentokil Initial plc (NYSE:RTO)

Synovus Financial Corp lifted its position in Rentokil Initial plc (NYSE:RTO - Free Report) by 88.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 190,025 shares of the company's stock after purchasing an additional 89,452 shares during the quarter. Synovus Financial Corp's holdings in Rentokil Initial were worth $4,737,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Rentokil Initial during the 3rd quarter worth about $295,000. Sunbelt Securities Inc. raised its holdings in shares of Rentokil Initial by 30.1% during the third quarter. Sunbelt Securities Inc. now owns 1,737 shares of the company's stock worth $43,000 after acquiring an additional 402 shares during the period. ABS Direct Equity Fund LLC raised its position in Rentokil Initial by 3.9% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 124,900 shares of the company's stock valued at $3,114,000 after buying an additional 4,668 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Rentokil Initial by 4.6% in the third quarter. MML Investors Services LLC now owns 89,983 shares of the company's stock worth $2,243,000 after purchasing an additional 3,997 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Rentokil Initial by 22.5% during the 3rd quarter. XTX Topco Ltd now owns 20,768 shares of the company's stock worth $518,000 after buying an additional 3,808 shares during the last quarter. Institutional investors and hedge funds own 9.91% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Redburn Atlantic downgraded Rentokil Initial from a "buy" rating to a "neutral" rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rentokil Initial presently has an average rating of "Hold" and a consensus price target of $29.00.

Rentokil Initial Stock Up 3.3 %

Shares of NYSE RTO traded up $0.84 during trading hours on Friday, hitting $26.35. 967,424 shares of the stock were exchanged, compared to its average volume of 700,866. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 1.04. Rentokil Initial plc has a 1-year low of $22.40 and a 1-year high of $34.07. The company's fifty day simple moving average is $25.39 and its two-hundred day simple moving average is $27.86.

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.