Bank of America Corp DE Buys Shares of 957,931 Rollins, Inc. $ROL

Key Points

• Bank of America acquired 957,931 Rollins shares worth approximately $40 million during the second quarter, giving it a 0.20% stake. Several other major institutional investors also opened positions, with institutions collectively owning 51.79% of the company.
• Rollins reported quarterly revenue of $1.08 billion, up 7.9% year over year, but earnings of $0.32 per share missed analysts’ $0.34 estimate. The company declared a quarterly dividend of $0.1825, equivalent to a 2.3% yield.
• Rollins shares opened at $32.35, near their 52-week low of $31.88 and well below the $66.14 high. Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $48.71.

Bank of America Corp DE bought a new stake in shares of Rollins, Inc. (NYSE:ROL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 957,931 shares of the business services provider's stock, valued at approximately $39,984,000. Bank of America Corp DE owned 0.20% of Rollins at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Strategic Global Advisors LLC purchased a new position in shares of Rollins during the 2nd quarter valued at about $5,398,000. Caisse de depot et placement du Quebec bought a new position in Rollins during the second quarter valued at approximately $31,284,000. Man Group plc bought a new position in Rollins during the second quarter valued at approximately $19,043,000. Jupiter Topco LLC purchased a new position in shares of Rollins during the second quarter worth approximately $1,428,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Rollins during the second quarter worth approximately $34,790,000. Institutional investors own 51.79% of the company's stock.

Rollins Price Performance

Shares of NYSE ROL opened at $32.35 on Tuesday. The company has a 50 day simple moving average of $37.46 and a two-hundred day simple moving average of $46.33. Rollins, Inc. has a fifty-two week low of $31.88 and a fifty-two week high of $66.14. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 29.41, a P/E/G ratio of 3.49 and a beta of 0.74. 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 (NYSE:ROL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share 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 analysts' expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Rollins, Inc. will post 1.18 EPS for the current fiscal year.

Rollins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were paid a $0.1825 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.73 annualized dividend and a dividend yield of 2.3%. Rollins's payout ratio is currently 66.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ROL shares. Bank of America restated a "neutral" rating and set a $35.00 target price (down from $55.00) on shares of Rollins in a report on Thursday, July 23rd. Zacks Research downgraded Rollins from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Morgan Stanley dropped their price objective on Rollins from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Wednesday, July 8th. Citigroup assumed coverage on shares of Rollins in a report on Wednesday, July 15th. They issued a "neutral" rating and a $46.00 target price on the stock. Finally, Raymond James Financial set a $35.00 target price on shares of Rollins in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $48.71.

Rollins Company Profile

Rollins, Inc is a global provider of pest and termite control services for residential and commercial customers. The company helps protect homes, businesses, and other properties from insects, rodents, termites, wildlife, and other pests through inspection, prevention, treatment, and ongoing monitoring programs.

Rollins operates through a portfolio of recognized pest control brands, including Orkin, Terminix, HomeTeam Pest Defense, Western Exterminator, and Critter Control. Its services include general pest management, termite protection, mosquito and bed bug control, wildlife management, and specialized commercial pest control programs.

Founded in 1948 and headquartered in Atlanta, Georgia, Rollins serves customers across the United States and internationally.

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