ABS Direct Equity Fund LLC Buys 35,100 Shares of Rentokil Initial plc (NYSE:RTO)

ABS Direct Equity Fund LLC raised its stake in Rentokil Initial plc (NYSE:RTO) by 28.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 160,000 shares of the company’s stock after purchasing an additional 35,100 shares during the quarter. Rentokil Initial comprises approximately 4.7% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 4th biggest position. ABS Direct Equity Fund LLC’s holdings in Rentokil Initial were worth $4,051,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTO. Valley Wealth Managers Inc. acquired a new position in Rentokil Initial in the 3rd quarter valued at $29,000. Northwestern Mutual Wealth Management Co. increased its stake in Rentokil Initial by 403.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 843 shares during the last quarter. Assetmark Inc. purchased a new position in Rentokil Initial during the third quarter worth about $36,000. Sunbelt Securities Inc. acquired a new stake in Rentokil Initial in the 2nd quarter worth about $40,000. Finally, Whittier Trust Co. grew its holdings in Rentokil Initial by 200.8% in the 3rd quarter. Whittier Trust Co. now owns 2,274 shares of the company’s stock valued at $57,000 after buying an additional 1,518 shares during the period. Hedge funds and other institutional investors own 9.91% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup upgraded shares of Rentokil Initial to a “strong-buy” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Rentokil Initial Stock Up 1.0 %

RTO stock opened at $24.42 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 1.04. The business has a fifty day simple moving average of $25.22 and a 200-day simple moving average of $26.93. Rentokil Initial plc has a 52 week low of $22.40 and a 52 week high of $34.07.

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.