Rentokil Initial PLC $RTO Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Rentokil Initial PLC (NYSE:RTO) by 501.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 560,332 shares of the company’s stock after buying an additional 467,167 shares during the period. JPMorgan Chase & Co. owned 0.11% of Rentokil Initial worth $14,148,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Rentokil Initial by 567.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 31,506 shares of the company’s stock worth $796,000 after acquiring an additional 26,783 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Rentokil Initial by 28.2% in the third quarter. Assetmark Inc. now owns 468,513 shares of the company’s stock valued at $11,830,000 after purchasing an additional 103,011 shares during the period. Cibc World Market Inc. increased its holdings in shares of Rentokil Initial by 9.9% in the third quarter. Cibc World Market Inc. now owns 12,560 shares of the company’s stock valued at $317,000 after purchasing an additional 1,135 shares during the period. QVIDTVM Management LLC raised its stake in shares of Rentokil Initial by 669.1% in the third quarter. QVIDTVM Management LLC now owns 1,704,486 shares of the company’s stock worth $43,038,000 after purchasing an additional 1,482,865 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Rentokil Initial by 171.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,726 shares of the company’s stock worth $43,000 after purchasing an additional 1,089 shares during the period. 9.91% of the stock is owned by hedge funds and other institutional investors.

Rentokil Initial Price Performance

RTO opened at $28.74 on Thursday. The firm has a fifty day moving average price of $31.27 and a 200 day moving average price of $28.25. Rentokil Initial PLC has a 1 year low of $19.60 and a 1 year high of $33.46. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.79.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Rentokil Initial from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Bank of America raised shares of Rentokil Initial from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Thursday, December 18th. Rothschild & Co Redburn downgraded shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Morgan Stanley raised shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Rentokil Initial has an average rating of “Hold” and a consensus price target of $34.00.

Rentokil Initial Company Profile

Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.

Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.