Norges Bank Invests $218.59 Million in Rollins, Inc. $ROL

Norges Bank acquired a new position in shares of Rollins, Inc. (NYSE:ROL) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,874,385 shares of the business services provider’s stock, valued at approximately $218,593,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its holdings in shares of Rollins by 1.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 251,144 shares of the business services provider’s stock valued at $14,170,000 after buying an additional 2,720 shares during the period. Korea Investment CORP increased its stake in Rollins by 90.7% during the second quarter. Korea Investment CORP now owns 157,917 shares of the business services provider’s stock worth $8,910,000 after purchasing an additional 75,100 shares during the period. Vinva Investment Management Ltd purchased a new stake in Rollins during the second quarter worth about $421,000. Inceptionr LLC acquired a new stake in shares of Rollins during the second quarter worth about $632,000. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Rollins by 16.2% in the second quarter. J.W. Cole Advisors Inc. now owns 128,043 shares of the business services provider’s stock valued at $7,224,000 after purchasing an additional 17,845 shares during the period. 51.79% of the stock is owned by hedge funds and other institutional investors.

Rollins Stock Performance

Shares of ROL opened at $61.19 on Tuesday. The stock has a 50 day moving average price of $58.01 and a 200 day moving average price of $57.27. Rollins, Inc. has a 52-week low of $45.34 and a 52-week high of $61.84. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 57.19 and a beta of 0.72.

Rollins (NYSE:ROL) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Rollins had a net margin of 14.02% and a return on equity of 38.66%. Rollins’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. Research analysts predict that Rollins, Inc. will post 1.09 EPS for the current fiscal year.

Rollins Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Rollins’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, November 10th. Rollins’s payout ratio is 68.22%.

Analyst Upgrades and Downgrades

ROL has been the topic of several recent research reports. Canaccord Genuity Group set a $55.00 target price on shares of Rollins and gave the stock a “hold” rating in a research note on Friday, October 31st. Zacks Research cut shares of Rollins from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. initiated coverage on shares of Rollins in a research note on Friday, September 26th. They issued an “overweight” rating and a $70.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Rollins in a research note on Monday, November 24th. Finally, Sanford C. Bernstein assumed coverage on Rollins in a report on Wednesday, November 12th. They issued an “outperform” rating and a $70.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.42.

Insider Transactions at Rollins

In other Rollins news, insider Thomas D. Tesh sold 2,395 shares of Rollins stock in a transaction on Friday, November 14th. The shares were sold at an average price of $57.77, for a total value of $138,359.15. Following the transaction, the insider directly owned 34,732 shares in the company, valued at approximately $2,006,467.64. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.47% of the company’s stock.

Rollins Company Profile

Rollins, Inc, through its subsidiaries, provides pest and wildlife control services to residential and commercial customers in the United States and internationally. The company offers pest control services to residential properties protecting from common pests, including rodents, insects, and wildlife.