Corient Private Wealth LP Buys New Stake in Rollins, Inc. $ROL

Corient Private Wealth LP bought a new stake in Rollins, Inc. (NYSE:ROL) in the 2nd quarter, HoldingsChannel reports. The fund bought 438,491 shares of the business services provider’s stock, valued at approximately $18,303,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Rollins during the 2nd quarter valued at $1,204,334,000. Norges Bank acquired a new stake in shares of Rollins in the 4th quarter worth $244,669,000. Legal & General Group Plc purchased a new position in Rollins during the 2nd quarter worth $84,181,000. Pictet Asset Management Holding SA grew its stake in Rollins by 188.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,908,818 shares of the business services provider’s stock worth $155,335,000 after buying an additional 1,899,515 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Rollins during the 2nd quarter valued at about $65,993,000. 51.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ROL has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Rollins from $72.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Argus cut shares of Rollins from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Morgan Stanley dropped their target price on shares of Rollins from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 price target (down from $70.00) on shares of Rollins in a research note on Friday, July 24th. Finally, Canaccord Genuity Group set a $45.00 price target on shares of Rollins and gave the stock a “hold” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.71.

Rollins Stock Up 1.4%

Shares of ROL stock opened at $36.43 on Friday. Rollins, Inc. has a fifty-two week low of $35.81 and a fifty-two week high of $66.14. The firm has a market capitalization of $17.53 billion, a PE ratio of 33.12, a P/E/G ratio of 3.94 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. The stock’s 50-day simple moving average is $40.33 and its 200-day simple moving average is $49.36.

Rollins (NYSE:ROL) last released its earnings results 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Rollins had a return on equity of 38.81% and a net margin of 13.55%.The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Equities analysts expect that Rollins, Inc. will post 1.18 earnings per share for the current year.

Rollins Announces Dividend

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

Rollins Profile

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.