Manning & Napier Advisors LLC Purchases Shares of 1,493,038 Rollins, Inc. $ROL

Key Points

• Manning & Napier Advisors purchased 1,493,038 Rollins shares worth approximately $63.1 million, giving it a 0.31% stake. Institutional investors and hedge funds collectively own 51.79% of the company.
• Rollins’ shares opened at $37.27, near their 12-month low of $35.83. The company’s latest quarterly results missed estimates, with EPS of $0.32 versus $0.34 expected and revenue of $1.08 billion versus $1.09 billion forecast, despite 7.9% year-over-year revenue growth.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $48.71. Rollins also declared a quarterly dividend of $0.1825, equivalent to an annualized $0.73 payout and a 2.0% yield.

Manning & Napier Advisors LLC purchased a new stake in shares of Rollins, Inc. (NYSE:ROL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,493,038 shares of the business services provider's stock, valued at approximately $63,126,000. Manning & Napier Advisors LLC owned about 0.31% of Rollins at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ROL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rollins by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,812 shares of the business services provider's stock worth $1,663,000 after acquiring an additional 1,620 shares during the period. Empowered Funds LLC increased its holdings in shares of Rollins by 16.7% during the first quarter. Empowered Funds LLC now owns 6,427 shares of the business services provider's stock valued at $347,000 after purchasing an additional 918 shares during the period. Woodline Partners LP raised its stake in shares of Rollins by 40.7% during the first quarter. Woodline Partners LP now owns 23,728 shares of the business services provider's stock valued at $1,282,000 after purchasing an additional 6,859 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Rollins by 75.8% during the first quarter. Geneos Wealth Management Inc. now owns 870 shares of the business services provider's stock valued at $47,000 after purchasing an additional 375 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Rollins by 185.0% in the second quarter. First Trust Advisors LP now owns 368,718 shares of the business services provider's stock worth $20,803,000 after purchasing an additional 239,361 shares during the period. 51.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ROL shares. Zacks Research lowered shares of Rollins from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Piper Sandler decreased their price objective on shares of Rollins from $72.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, July 24th. UBS Group reiterated a "neutral" rating and set a $43.00 price objective (down from $50.00) on shares of Rollins in a research note on Friday, July 24th. Morgan Stanley dropped their target price on Rollins from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Finally, Canaccord Genuity Group set a $45.00 price target on Rollins and gave the company a "hold" rating in a research note on Thursday, July 23rd. One equities 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $48.71.

Rollins Price Performance

Shares of NYSE ROL opened at $37.27 on Tuesday. Rollins, Inc. has a twelve month low of $35.83 and a twelve month high of $66.14. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $41.06 and a two-hundred day moving average of $50.04. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 4.03 and a beta of 0.75.

Rollins (NYSE:ROL - Get Free Report) last announced its quarterly earnings data 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 business 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 firm earned $0.30 EPS. The business's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts expect that Rollins, Inc. will post 1.19 earnings per share for the current fiscal year.

Rollins Announces Dividend

The firm 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 $0.1825 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.73 annualized dividend and a yield of 2.0%. Rollins's payout ratio is 66.36%.

About Rollins

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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