Bleakley Financial Group LLC Increases Position in Rollins, Inc. (NYSE:ROL)

Bleakley Financial Group LLC grew its position in Rollins, Inc. (NYSE:ROL - Free Report) by 967.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,363 shares of the business services provider's stock after purchasing an additional 84,619 shares during the quarter. Bleakley Financial Group LLC's holdings in Rollins were worth $5,044,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Rollins in the 4th quarter valued at about $176,784,000. Marshall Wace LLP grew its stake in shares of Rollins by 389.2% in the 4th quarter. Marshall Wace LLP now owns 2,770,131 shares of the business services provider's stock valued at $128,396,000 after purchasing an additional 2,203,859 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Rollins in the fourth quarter valued at approximately $81,747,000. Geode Capital Management LLC increased its holdings in shares of Rollins by 17.6% in the fourth quarter. Geode Capital Management LLC now owns 8,557,923 shares of the business services provider's stock valued at $395,819,000 after purchasing an additional 1,282,508 shares during the period. Finally, BLI Banque de Luxembourg Investments purchased a new stake in shares of Rollins during the fourth quarter worth approximately $50,161,000. 51.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rollins

In other news, insider Thomas D. Tesh sold 1,921 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $56.54, for a total value of $108,613.34. Following the completion of the transaction, the insider directly owned 38,028 shares of the company's stock, valued at $2,150,103.12. The trade was a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman John F. Wilson sold 40,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $56.77, for a total value of $2,270,800.00. Following the sale, the chairman directly owned 662,727 shares in the company, valued at approximately $37,623,011.79. The trade was a 5.69% decrease in their position. The disclosure for this sale can be found here. 4.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group set a $61.00 price objective on shares of Rollins and gave the company a "buy" rating in a research note on Thursday, April 24th. Canaccord Genuity Group increased their price target on shares of Rollins from $49.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, April 25th. Jefferies Financial Group raised Rollins from a "hold" rating to a "buy" rating and lifted their price objective for the company from $55.00 to $65.00 in a report on Monday, June 2nd. Piper Sandler initiated coverage on Rollins in a research note on Tuesday, July 1st. They set an "overweight" rating and a $70.00 target price for the company. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $65.00 price target (up from $63.00) on shares of Rollins in a report on Wednesday, June 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Rollins Price Performance

NYSE ROL traded up $0.59 during mid-day trading on Wednesday, hitting $55.64. The stock had a trading volume of 1,469,281 shares, compared to its average volume of 1,756,417. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 0.36. The company has a market cap of $26.97 billion, a price-to-earnings ratio of 56.20 and a beta of 0.75. Rollins, Inc. has a 52-week low of $45.34 and a 52-week high of $58.65. The company has a 50 day simple moving average of $56.58 and a 200 day simple moving average of $53.23.

Rollins (NYSE:ROL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $822.50 million for the quarter, compared to analyst estimates of $817.09 million. Rollins had a net margin of 13.78% and a return on equity of 37.31%. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. Equities analysts forecast that Rollins, Inc. will post 1.09 EPS for the current fiscal year.

Rollins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 12th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, May 12th. Rollins's dividend payout ratio (DPR) is presently 66.67%.

Rollins Company Profile

Rollins, Inc, through its subsidiaries, provides pest and wildlife control services to residential and commercial customers in the United States and internationally. The company offers pest control services to residential properties protecting from common pests, including rodents, insects, and wildlife.