Assenagon Asset Management S.A. Increases Stock Holdings in Rollins, Inc. $ROL

Key Points

• Assenagon Asset Management increased its Rollins stake by 158% in the second quarter, purchasing 287,878 additional shares and bringing its holdings to 470,061 shares valued at approximately $19.6 million. Institutional investors collectively own 51.79% of Rollins.
• Analyst sentiment is mixed, with Rollins receiving a consensus rating of “Hold” and an average price target of $48.71. Several analysts recently lowered their targets, including Wells Fargo, which downgraded the stock to “Underweight” with a $32 target.
• Rollins reported quarterly EPS of $0.32, below the $0.34 consensus estimate, while revenue rose 7.9% year over year to $1.08 billion. The company declared a quarterly dividend of $0.1825 per share, equivalent to an annualized $0.73 payout and a 1.9% yield.

Assenagon Asset Management S.A. increased its holdings in Rollins, Inc. (NYSE:ROL - Free Report) by 158.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 470,061 shares of the business services provider's stock after buying an additional 287,878 shares during the period. Assenagon Asset Management S.A. owned about 0.10% of Rollins worth $19,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. LRI Investments LLC raised its position in Rollins by 8.7% during the fourth quarter. LRI Investments LLC now owns 2,293 shares of the business services provider's stock worth $138,000 after acquiring an additional 183 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Rollins by 1.1% in the first quarter. Sequoia Financial Advisors LLC now owns 16,365 shares of the business services provider's stock valued at $874,000 after purchasing an additional 183 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Rollins by 0.3% in the first quarter. IFM Investors Pty Ltd now owns 57,895 shares of the business services provider's stock valued at $3,092,000 after purchasing an additional 185 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in shares of Rollins by 1.6% during the 4th quarter. New Mexico Educational Retirement Board now owns 12,875 shares of the business services provider's stock worth $773,000 after purchasing an additional 200 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Rollins by 3.9% during the 4th quarter. Inspire Investing LLC now owns 5,457 shares of the business services provider's stock worth $328,000 after purchasing an additional 203 shares in the last quarter. 51.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ROL shares. Piper Sandler cut their price objective on Rollins from $72.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, July 24th. BNP Paribas Exane dropped their price objective on Rollins from $63.00 to $44.00 and set a "hold" rating for the company in a research report on Friday, July 24th. Wells Fargo & Company downgraded shares of Rollins from an "overweight" rating to an "underweight" rating and cut their target price for the company from $46.00 to $32.00 in a research note on Friday, July 24th. Rothschild & Co Redburn set a $66.00 target price on shares of Rollins and gave the company a "buy" rating in a report on Monday, April 27th. Finally, Argus cut shares of Rollins from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Rollins presently has an average rating of "Hold" and a consensus price target of $48.71.

Rollins Trading Up 0.2%

NYSE ROL opened at $37.81 on Monday. The company has a market cap of $18.19 billion, a P/E ratio of 34.37, a P/E/G ratio of 4.12 and a beta of 0.75. Rollins, Inc. has a 12 month low of $36.35 and a 12 month high of $66.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.63 and a quick ratio of 0.58. The company has a 50-day moving average of $43.29 and a 200-day moving average of $52.10.

Rollins (NYSE:ROL - Get Free Report) last released its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Rollins had a return on equity of 38.81% and a net margin of 13.55%.The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.30 earnings per share. Rollins's revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Rollins, Inc. will post 1.19 earnings per share for the current year.

Rollins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 10th. Rollins's payout ratio is 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.

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