Rentokil Initial (NYSE:RTO) Shares Gap Down to $28.25

Rentokil Initial plc (NYSE:RTO) gapped down before the market opened on Thursday . The stock had previously closed at $28.25, but opened at $26.00. Rentokil Initial shares last traded at $26.46, with a volume of 334,861 shares traded.

Wall Street Analyst Weigh In

RTO has been the topic of several research reports. Bank of America downgraded shares of Rentokil Initial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $29.00 in a research report on Wednesday, January 24th. BNP Paribas upgraded shares of Rentokil Initial from a “neutral” rating to an “outperform” rating in a research report on Monday, March 18th.

Rentokil Initial Trading Up 3.3 %

The company has a fifty day simple moving average of $28.91 and a two-hundred day simple moving average of $28.59.

Rentokil Initial Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.3784 per share. This is a boost 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.

Institutional Trading of Rentokil Initial

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

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.