Nippon Life Global Investors Americas Inc. Boosts Stock Position in Rollins, Inc. $ROL

by · The Cerbat Gem

Nippon Life Global Investors Americas Inc. lifted its position in shares of Rollins, Inc. (NYSE:ROLFree Report) by 22.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,770 shares of the business services provider’s stock after buying an additional 12,200 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Rollins were worth $3,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ROL. Norges Bank bought a new stake in shares of Rollins in the 2nd quarter worth approximately $218,593,000. AMF Tjanstepension AB raised its position in Rollins by 196.2% in the 2nd quarter. AMF Tjanstepension AB now owns 3,542,898 shares of the business services provider’s stock worth $199,937,000 after purchasing an additional 2,346,592 shares during the period. Westfield Capital Management Co. LP lifted its stake in Rollins by 1,923.1% in the second quarter. Westfield Capital Management Co. LP now owns 1,878,134 shares of the business services provider’s stock worth $105,964,000 after purchasing an additional 1,785,300 shares during the last quarter. Invesco Ltd. boosted its position in Rollins by 41.2% during the second quarter. Invesco Ltd. now owns 5,657,997 shares of the business services provider’s stock valued at $319,224,000 after buying an additional 1,649,676 shares during the period. Finally, Marshall Wace LLP boosted its position in Rollins by 78.0% during the second quarter. Marshall Wace LLP now owns 2,282,659 shares of the business services provider’s stock valued at $128,788,000 after buying an additional 1,000,185 shares during the period. Hedge funds and other institutional investors own 51.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ROL. Canaccord Genuity Group set a $55.00 price objective on Rollins and gave the stock a “hold” rating in a report on Friday, October 31st. Wells Fargo & Company lifted their price target on Rollins from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Rollins in a research report on Monday, December 29th. JPMorgan Chase & Co. began coverage on shares of Rollins in a report on Friday, September 26th. They issued an “overweight” rating and a $70.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Rollins from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $58.00 to $72.00 in a report on Wednesday, December 17th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.33.

Check Out Our Latest Report on Rollins

Rollins Stock Performance

Shares of Rollins stock opened at $62.78 on Friday. Rollins, Inc. has a 12 month low of $48.17 and a 12 month high of $62.81. The firm has a market capitalization of $30.42 billion, a P/E ratio of 58.67 and a beta of 0.79. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $60.13 and a two-hundred day simple moving average of $58.07.

Rollins (NYSE:ROLGet Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Rollins had a net margin of 14.02% and a return on equity of 37.60%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $0.29 EPS. Rollins’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Rollins, Inc. will post 1.09 earnings per share for the current fiscal year.

Rollins Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were given a $0.1825 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Rollins’s previous quarterly dividend of $0.17. Rollins’s payout ratio is presently 68.22%.

Trending Headlines about Rollins

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Insider Activity at Rollins

In related news, Chairman John F. Wilson sold 1,520 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $59.40, for a total transaction of $90,288.00. Following the completion of the transaction, the chairman owned 607,587 shares of the company’s stock, valued at $36,090,667.80. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas D. Tesh sold 2,396 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $60.06, for a total value of $143,903.76. Following the completion of the sale, the insider directly owned 29,231 shares in the company, valued at $1,755,613.86. This trade represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,707 shares of company stock worth $515,664 in the last 90 days. 4.47% of the stock is currently owned by company insiders.

About Rollins

(Free Report)

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.

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