Liberty One Investment Management LLC Acquires New Stake in Rentokil Initial PLC $RTO

Liberty One Investment Management LLC acquired a new position in shares of Rentokil Initial PLC (NYSE:RTO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,581,075 shares of the company’s stock, valued at approximately $39,946,000. Rentokil Initial comprises about 2.2% of Liberty One Investment Management LLC’s holdings, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunriver Management LLC lifted its position in Rentokil Initial by 115.5% in the second quarter. Sunriver Management LLC now owns 2,057,126 shares of the company’s stock valued at $49,371,000 after purchasing an additional 1,102,353 shares during the period. Arlington Partners LLC purchased a new position in shares of Rentokil Initial during the 2nd quarter worth approximately $1,639,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Rentokil Initial in the 2nd quarter valued at approximately $1,482,000. Bank of Montreal Can lifted its holdings in shares of Rentokil Initial by 557.8% in the 2nd quarter. Bank of Montreal Can now owns 759,854 shares of the company’s stock valued at $18,236,000 after buying an additional 644,341 shares during the period. Finally, Stanley Capital Management LLC boosted its stake in shares of Rentokil Initial by 106.7% in the second quarter. Stanley Capital Management LLC now owns 413,449 shares of the company’s stock valued at $9,923,000 after buying an additional 213,449 shares in the last quarter. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Analyst Upgrades and Downgrades

RTO has been the subject of several research analyst reports. Zacks Research upgraded Rentokil Initial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Morgan Stanley raised shares of Rentokil Initial from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rentokil Initial in a research note on Wednesday, October 8th. Sanford C. Bernstein raised shares of Rentokil Initial from an “underperform” rating to an “outperform” rating in a report on Tuesday, October 7th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.00.

Rentokil Initial Price Performance

Shares of NYSE RTO opened at $31.74 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.12 and a quick ratio of 1.03. The company’s 50-day moving average price is $28.51 and its 200 day moving average price is $26.33. Rentokil Initial PLC has a 52 week low of $19.60 and a 52 week high of $32.20.

About Rentokil Initial

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.