Rentokil Initial plc’s (NYSE:RTO) Quiet Period Set To Expire Tomorrow

Rentokil Initial’s (NYSE:RTO) quiet period is set to expire on Tuesday, May 28th. Rentokil Initial had issued 10,000,000 shares in its IPO on April 18th. The total size of the offering was $40,000,000 based on an initial share price of $4.00. During Rentokil Initial’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RTO shares. JPMorgan Chase & Co. began coverage on shares of Rentokil Initial in a report on Tuesday, April 23rd. They issued a “neutral” rating on the stock. BNP Paribas upgraded Rentokil Initial from a “neutral” rating to an “outperform” rating in a research report on Monday, March 18th.

Rentokil Initial Price Performance

Shares of RTO opened at $26.47 on Monday. The company’s fifty day simple moving average is $27.95 and its 200-day simple moving average is $27.67. Rentokil Initial has a twelve month low of $23.39 and a twelve month high of $41.55.

Rentokil Initial Increases Dividend

The firm also recently announced 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 represents a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Rentokil Initial’s previous semi-annual dividend of $0.18.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RTO. Whittier Trust Co. of Nevada Inc. boosted its holdings in Rentokil Initial by 81.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 968 shares of the company’s stock valued at $29,000 after acquiring an additional 434 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of Rentokil Initial in the fourth quarter worth about $34,000. Principal Securities Inc. purchased a new position in Rentokil Initial in the 4th quarter worth about $47,000. Allspring Global Investments Holdings LLC bought a new stake in Rentokil Initial during the 1st quarter valued at about $47,000. Finally, Quantbot Technologies LP purchased a new stake in Rentokil Initial in the 3rd quarter valued at about $48,000. Institutional investors own 9.91% of the company’s stock.

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.