The Manufacturers Life Insurance Company Purchases Shares of 1,090,688 Rollins, Inc. $ROL

The Manufacturers Life Insurance Company acquired a new stake in shares of Rollins, Inc. (NYSE:ROL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,090,688 shares of the business services provider’s stock, valued at approximately $45,525,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Rollins by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,812 shares of the business services provider’s stock valued at $1,663,000 after buying an additional 1,620 shares during the period. Empowered Funds LLC raised its stake in Rollins by 16.7% during the 1st quarter. Empowered Funds LLC now owns 6,427 shares of the business services provider’s stock worth $347,000 after buying an additional 918 shares during the period. Woodline Partners LP raised its stake in Rollins by 40.7% during the 1st quarter. Woodline Partners LP now owns 23,728 shares of the business services provider’s stock worth $1,282,000 after buying an additional 6,859 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Rollins by 75.8% in the first quarter. Geneos Wealth Management Inc. now owns 870 shares of the business services provider’s stock worth $47,000 after acquiring an additional 375 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Rollins by 185.0% in the second quarter. First Trust Advisors LP now owns 368,718 shares of the business services provider’s stock worth $20,803,000 after acquiring an additional 239,361 shares in the last quarter. Institutional investors own 51.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank Of Canada cut Rollins from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $52.00 to $40.00 in a research note on Thursday, July 23rd. Wells Fargo & Company lowered Rollins from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $46.00 to $32.00 in a research report on Friday, July 24th. Morgan Stanley cut their target price on Rollins from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Sanford C. Bernstein downgraded shares of Rollins from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $70.00 to $52.00 in a research report on Friday, May 29th. Finally, Piper Sandler decreased their price target on shares of Rollins from $72.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.71.

Rollins Price Performance

Shares of NYSE ROL opened at $36.70 on Thursday. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 3.98 and a beta of 0.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.58 and a current ratio of 0.63. Rollins, Inc. has a fifty-two week low of $35.83 and a fifty-two week high of $66.14. The firm’s 50-day simple moving average is $40.68 and its 200 day simple moving average is $49.65.

Rollins (NYSE:ROL) last issued its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Rollins had a return on equity of 38.81% and a net margin of 13.55%.The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, research analysts anticipate that Rollins, Inc. will post 1.18 earnings per share for the current fiscal year.

Rollins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a dividend of $0.1825 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.73 annualized dividend and a dividend yield of 2.0%. Rollins’s payout ratio is presently 66.36%.

About Rollins

Rollins, Inc (NYSE: ROL) is a provider of pest and termite control services operating through a network of subsidiaries and franchises. Headquartered in Atlanta, Georgia, the company offers a broad range of pest management solutions for both residential and commercial customers, positioning itself as a specialist in protecting property and public health from pests and vectors.

Its service offerings include general pest control, termite inspection and treatment, bed bug remediation, mosquito and vector control, wildlife exclusion, and related specialty services.