Rentokil Initial (NYSE:RTO) Shares Gap Up to $25.61

Rentokil Initial plc (NYSE:RTO) gapped up before the market opened on Friday . The stock had previously closed at $25.61, but opened at $26.23. Rentokil Initial shares last traded at $26.33, with a volume of 116,184 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America cut shares of Rentokil Initial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $40.00 to $29.00 in a research report on Wednesday, January 24th. BNP Paribas raised shares of Rentokil Initial from a “neutral” rating to an “outperform” rating in a research report on Monday, March 18th.

Rentokil Initial Price Performance

The stock’s 50-day moving average is $28.91 and its two-hundred day moving average is $28.61.

Rentokil Initial Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, April 5th will be given a $0.3784 dividend. This is a positive change from Rentokil Initial’s previous semi-annual dividend of $0.18. This represents a yield of 1.6%. The ex-dividend date of this dividend is Thursday, April 4th.

Hedge Funds Weigh In On Rentokil Initial

A number of hedge funds have recently added to or reduced their stakes in RTO. Steward Partners Investment Advisory LLC bought a new position in Rentokil Initial in the 4th quarter worth about $32,000. Benjamin F. Edwards & Company Inc. bought a new position in Rentokil Initial in the 4th quarter worth about $34,000. Belpointe Asset Management LLC grew its stake in Rentokil Initial by 291.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,205 shares of the company’s stock worth $44,000 after acquiring an additional 897 shares in the last quarter. Principal Securities Inc. bought a new position in Rentokil Initial in the 4th quarter worth about $47,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Rentokil Initial in the 1st quarter worth about $47,000. 9.91% of the stock is currently owned by institutional investors.

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.