Corient Private Wealth LP Sells 48,712 Shares of Rollins, Inc. $ROL

Key Points

• Corient Private Wealth reduced its Rollins stake by 10%, selling 48,712 shares in the second quarter and retaining 438,422 shares valued at approximately $18.3 million. Institutional investors collectively own 51.79% of the company.
• Analyst sentiment has weakened, with several brokerages cutting ratings or price targets. Rollins has a consensus “Hold” rating and an average target price of $48.71.
• Rollins reported quarterly earnings of $0.32 per share, below the $0.34 estimate, while revenue rose 7.9% year over year to $1.08 billion. The company also maintains a quarterly dividend of $0.1825 per share, equivalent to a 2.1% annual yield.

Corient Private Wealth LP cut its holdings in shares of Rollins, Inc. (NYSE:ROL - Free Report) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 438,422 shares of the business services provider's stock after selling 48,712 shares during the quarter. Corient Private Wealth LP owned about 0.09% of Rollins worth $18,300,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Rollins in the second quarter valued at $1,204,334,000. California State Teachers Retirement System lifted its stake in shares of Rollins by 5,022.4% during the 2nd quarter. California State Teachers Retirement System now owns 20,917,333 shares of the business services provider's stock worth $873,089,000 after buying an additional 20,508,985 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rollins by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 10,163,847 shares of the business services provider's stock worth $608,256,000 after buying an additional 626,866 shares during the period. Norges Bank bought a new stake in shares of Rollins during the 4th quarter worth about $244,669,000. Finally, AMF Tjanstepension AB grew its stake in Rollins by 2.4% in the 1st quarter. AMF Tjanstepension AB now owns 3,669,234 shares of the business services provider's stock valued at $195,974,000 after buying an additional 87,139 shares during the last quarter. Institutional investors and hedge funds own 51.79% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ROL. UBS Group restated a "neutral" rating and set a $43.00 price objective (down from $50.00) on shares of Rollins in a research report on Friday, July 24th. Argus downgraded Rollins from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $45.00 target price (down from $70.00) on shares of Rollins in a research note on Friday, July 24th. Wells Fargo & Company cut Rollins from an "overweight" rating to an "underweight" rating and dropped their price target for the stock from $46.00 to $32.00 in a report on Friday, July 24th. Finally, Zacks Research downgraded Rollins from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. One research 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $48.71.

Rollins Stock Performance

Shares of NYSE:ROL opened at $35.30 on Tuesday. The company's 50 day moving average price is $38.61 and its two-hundred day moving average price is $47.28. Rollins, Inc. has a 12-month low of $34.35 and a 12-month high of $66.14. The firm has a market cap of $16.99 billion, a PE ratio of 32.09, a PEG ratio of 3.74 and a beta of 0.74. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.34.

Rollins (NYSE:ROL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Rollins had a net margin of 13.55% and a return on equity of 38.81%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities research analysts predict that Rollins, Inc. will post 1.18 earnings per share for the current year.

Rollins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were paid a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, August 10th. Rollins's dividend payout ratio (DPR) is 66.36%.

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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