Rentokil Initial (NYSE:RTO) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Rentokil Initial (NYSE:RTO) in a research report report published on Tuesday, StockNewsAPI reports. The brokerage issued a neutral rating on the stock.

A number of other research analysts have also recently weighed in on the company. BNP Paribas upgraded Rentokil Initial from a neutral rating to an outperform rating in a research report on Monday, March 18th. Bank of America cut Rentokil Initial from a buy rating to a neutral rating and dropped their price target for the company from $40.00 to $29.00 in a research report on Wednesday, January 24th.

Rentokil Initial Price Performance

Rentokil Initial stock opened at $26.23 on Tuesday. Rentokil Initial has a one year low of $23.39 and a one year high of $41.55. The business has a fifty day moving average of $28.96 and a two-hundred day moving average of $28.18.

Rentokil Initial Increases Dividend

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

Institutional Trading of Rentokil Initial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SYSTM Wealth Solutions LLC increased its position in Rentokil Initial by 168.5% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 3,977 shares of the company’s stock worth $120,000 after purchasing an additional 2,496 shares in the last quarter. Verdence Capital Advisors LLC purchased a new stake in Rentokil Initial during the 1st quarter worth about $476,000. Bar Harbor Wealth Management purchased a new stake in Rentokil Initial during the 1st quarter worth about $8,528,000. Raymond James & Associates boosted its stake in Rentokil Initial by 17.9% in the 1st quarter. Raymond James & Associates now owns 334,934 shares of the company’s stock worth $10,098,000 after buying an additional 50,968 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in Rentokil Initial in the 1st quarter worth about $1,495,000. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Rentokil Initial Company Profile

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.