Rollins, Inc. $ROL Stock Holdings Increased by Bank of America Corp DE

Key Points

• Bank of America increased its Rollins stake by 26.6% in the first quarter, owning 1.43 million shares valued at approximately $76.2 million. Institutional investors and hedge funds collectively hold 51.79% of the company.
• Analyst sentiment is mixed, with an average rating of “Hold” and an average price target of $48.71. Several firms recently cut their targets, while Rollins shares opened at $37.81, near their 52-week low.
• Rollins reported quarterly revenue growth of 7.9% year over year but missed earnings and revenue estimates, posting EPS of $0.32 versus the $0.34 consensus. The company also declared a quarterly dividend of $0.1825 per share, representing a 1.9% annualized yield.

Bank of America Corp DE raised its position in shares of Rollins, Inc. (NYSE:ROL - Free Report) by 26.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,425,772 shares of the business services provider's stock after buying an additional 299,432 shares during the quarter. Bank of America Corp DE owned about 0.30% of Rollins worth $76,150,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ROL. Edgestream Partners L.P. acquired a new stake in shares of Rollins during the 1st quarter valued at approximately $4,299,000. Royal Bank of Canada boosted its holdings in Rollins by 16.6% in the first quarter. Royal Bank of Canada now owns 1,272,753 shares of the business services provider's stock worth $67,976,000 after purchasing an additional 181,460 shares during the period. Empowered Funds LLC boosted its holdings in Rollins by 6.4% in the first quarter. Empowered Funds LLC now owns 13,718 shares of the business services provider's stock worth $733,000 after purchasing an additional 831 shares during the period. Clough Capital Partners L P increased its stake in Rollins by 5.0% during the first quarter. Clough Capital Partners L P now owns 24,530 shares of the business services provider's stock valued at $1,310,000 after purchasing an additional 1,162 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of Rollins by 26.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 13,347 shares of the business services provider's stock worth $713,000 after purchasing an additional 2,833 shares during the period. Institutional investors and hedge funds own 51.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ROL. Piper Sandler reduced their price target on shares of Rollins from $72.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, July 24th. Rothschild & Co Redburn set a $66.00 price objective on shares of Rollins and gave the company a "buy" rating in a research report on Monday, April 27th. Sanford C. Bernstein lowered shares of Rollins from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $70.00 to $52.00 in a research note on Friday, May 29th. Morgan Stanley cut their target price on shares of Rollins from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Finally, Citigroup began coverage on Rollins in a research note on Wednesday, July 15th. They issued a "neutral" rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $48.71.

Rollins Price Performance

NYSE ROL opened at $37.81 on Monday. The company has a 50-day moving average price of $43.29 and a two-hundred day moving average price of $52.10. Rollins, Inc. has a 52 week low of $36.35 and a 52 week high of $66.14. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 4.12 and a beta of 0.75. The company has a current ratio of 0.63, a quick ratio of 0.58 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 for the quarter, compared to the consensus estimate of $1.09 billion. Rollins had a net margin of 13.55% and a return on equity of 38.81%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. Analysts forecast that Rollins, Inc. will post 1.19 EPS for the current year.

Rollins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.1825 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.73 annualized dividend and a yield of 1.9%. Rollins's payout ratio is presently 66.36%.

Rollins Company Profile

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.

Want to see what other hedge funds are holding ROL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rollins, Inc. (NYSE:ROL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source