Foresight Global Investors Inc. Grows Position in Rentokil Initial plc (NYSE:RTO)

Foresight Global Investors Inc. raised its position in Rentokil Initial plc (NYSE:RTO) by 29.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,521 shares of the company’s stock after purchasing an additional 10,046 shares during the period. Rentokil Initial accounts for 0.7% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 23rd largest holding. Foresight Global Investors Inc.’s holdings in Rentokil Initial were worth $1,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. purchased a new position in Rentokil Initial in the fourth quarter valued at $34,000. Quantbot Technologies LP purchased a new position in shares of Rentokil Initial in the 3rd quarter valued at about $48,000. Fiera Capital Corp purchased a new stake in Rentokil Initial during the third quarter worth approximately $211,000. Whittier Trust Co. boosted its holdings in Rentokil Initial by 17.8% in the fourth quarter. Whittier Trust Co. now owns 7,538 shares of the company’s stock valued at $216,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Gitterman Wealth Management LLC boosted its holdings in Rentokil Initial by 8.0% in the third quarter. Gitterman Wealth Management LLC now owns 5,974 shares of the company’s stock valued at $221,000 after purchasing an additional 443 shares in the last quarter. 9.91% of the stock is currently owned by institutional investors and hedge funds.

Rentokil Initial Price Performance

Shares of RTO stock traded up $0.43 during trading hours on Thursday, hitting $26.86. The stock had a trading volume of 352,551 shares, compared to its average volume of 711,399. The stock’s 50 day moving average is $28.70 and its 200 day moving average is $27.63. Rentokil Initial plc has a twelve month low of $23.39 and a twelve month high of $41.55.

Rentokil Initial Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on RTO. BNP Paribas upgraded shares of Rentokil Initial from a “neutral” rating to an “outperform” rating in a research report on Monday, March 18th. Bank of America cut shares of Rentokil Initial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $40.00 to $29.00 in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. began coverage on Rentokil Initial in a report on Tuesday, April 23rd. They set a “neutral” rating on the stock.

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.