Premier Fund Managers Ltd Buys 100,568 Shares of Rollins, Inc. (NYSE:ROL)

Key Points

• Premier Fund Managers Ltd increased its stake in Rollins, Inc. by 7.7% during the first quarter, acquiring an additional 100,568 shares, bringing its total to 1,400,568 shares.
• Rollins has declared a quarterly dividend of $0.165 per share which will be paid on September 10th, 2023, with a yield of 1.15%.
• Analysts have raised their price targets for Rollins, with Royal Bank of Canada increasing its target from $52.00 to $62.00, and Wells Fargo setting a new target at $65.00.

Premier Fund Managers Ltd grew its position in shares of Rollins, Inc. (NYSE:ROL - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400,568 shares of the business services provider's stock after purchasing an additional 100,568 shares during the quarter. Rollins makes up about 2.8% of Premier Fund Managers Ltd's portfolio, making the stock its 5th biggest holding. Premier Fund Managers Ltd owned 0.29% of Rollins worth $74,294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ROL. City Holding Co. purchased a new stake in shares of Rollins in the first quarter valued at approximately $27,000. GW&K Investment Management LLC increased its position in shares of Rollins by 961.4% in the first quarter. GW&K Investment Management LLC now owns 605 shares of the business services provider's stock valued at $33,000 after buying an additional 548 shares in the last quarter. Mizuho Bank Ltd. purchased a new stake in shares of Rollins during the fourth quarter worth approximately $37,000. CVA Family Office LLC increased its position in shares of Rollins by 73.0% during the first quarter. CVA Family Office LLC now owns 806 shares of the business services provider's stock worth $44,000 after purchasing an additional 340 shares in the last quarter. Finally, Colonial Trust Co SC increased its position in shares of Rollins by 61.3% during the fourth quarter. Colonial Trust Co SC now owns 1,081 shares of the business services provider's stock worth $50,000 after purchasing an additional 411 shares in the last quarter. 51.79% of the stock is owned by hedge funds and other institutional investors.

Rollins Trading Up 0.7%

Shares of Rollins stock traded up $0.38 during trading hours on Friday, hitting $57.65. The company's stock had a trading volume of 1,049,048 shares, compared to its average volume of 1,905,737. Rollins, Inc. has a twelve month low of $45.34 and a twelve month high of $58.65. The firm has a fifty day moving average of $56.63 and a 200-day moving average of $54.02. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 57.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.68.

Rollins (NYSE:ROL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. Rollins had a return on equity of 36.96% and a net margin of 13.70%. The business had revenue of $999.53 million for the quarter, compared to analyst estimates of $988.77 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company's quarterly revenue was up 12.1% on a year-over-year basis. Research analysts forecast that Rollins, Inc. will post 1.09 EPS for the current year.

Rollins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 11th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.66 annualized dividend and a yield of 1.1%. Rollins's dividend payout ratio is presently 65.35%.

Analysts Set New Price Targets

Several analysts recently commented on ROL shares. Royal Bank Of Canada boosted their price target on Rollins from $52.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, April 17th. Piper Sandler boosted their price target on Rollins from $70.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Wells Fargo & Company reiterated an "overweight" rating and set a $65.00 price target (up from $63.00) on shares of Rollins in a research report on Wednesday, June 25th. Canaccord Genuity Group boosted their price target on Rollins from $49.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group set a $61.00 price target on Rollins and gave the stock a "buy" rating in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.40.

Insider Activity

In related news, Chairman John F. Wilson sold 40,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $56.77, for a total transaction of $2,270,800.00. Following the transaction, the chairman owned 662,727 shares of the company's stock, valued at approximately $37,623,011.79. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas D. Tesh sold 1,921 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $56.54, for a total value of $108,613.34. Following the transaction, the insider directly owned 38,028 shares in the company, valued at approximately $2,150,103.12. The trade was a 4.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,921 shares of company stock worth $4,120,613. 4.47% of the stock is owned by corporate insiders.

About Rollins

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.