Synovus Financial Corp Grows Stake in Rentokil Initial plc (NYSE:RTO)

Synovus Financial Corp lifted its stake in Rentokil Initial plc (NYSE:RTO) by 88.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,025 shares of the company’s stock after purchasing an additional 89,452 shares during the quarter. Synovus Financial Corp’s holdings in Rentokil Initial were worth $4,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. CWM LLC increased its stake in Rentokil Initial by 7.4% during the 2nd quarter. CWM LLC now owns 5,551 shares of the company’s stock valued at $165,000 after purchasing an additional 382 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Rentokil Initial during the second quarter valued at $219,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Rentokil Initial by 3.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 26,258 shares of the company’s stock valued at $779,000 after buying an additional 811 shares during the last quarter. Raymond James & Associates increased its holdings in Rentokil Initial by 2.4% in the 2nd quarter. Raymond James & Associates now owns 343,005 shares of the company’s stock worth $10,170,000 after buying an additional 8,071 shares in the last quarter. Finally, Nicholas Company Inc. purchased a new position in Rentokil Initial in the 2nd quarter worth about $6,093,000. Institutional investors own 9.91% of the company’s stock.

Rentokil Initial Stock Up 3.3 %

NYSE RTO opened at $26.35 on Friday. Rentokil Initial plc has a 1-year low of $22.40 and a 1-year high of $34.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 0.96. The business’s fifty day moving average price is $25.39 and its 200-day moving average price is $27.84.

Analyst Upgrades and Downgrades

Separately, Redburn Atlantic downgraded shares of Rentokil Initial from a “buy” rating to a “neutral” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

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.