The Manufacturers Life Insurance Company Buys 930,397 Shares of Rollins, Inc. $ROL

Key Points

• The Manufacturers Life Insurance Company increased its Rollins stake by 580.4%, buying 930,397 additional shares to own 1.09 million shares valued at approximately $45.5 million. Institutional investors collectively own 51.79% of the company.
• Analysts have substantially reduced their price targets, with the consensus rating at “Hold” and an average target of $48.71. Rollins shares opened at $34.70, near their 12-month low of $34.35.
• 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 maintains a quarterly dividend of $0.1825 per share, equivalent to a 2.1% annual yield.

The Manufacturers Life Insurance Company lifted its stake in shares of Rollins, Inc. (NYSE:ROL - Free Report) by 580.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,090,688 shares of the business services provider's stock after purchasing an additional 930,397 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.23% of Rollins worth $45,525,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ROL. BlackRock Inc. bought a new position in Rollins in the 2nd quarter worth approximately $1,204,334,000. California State Teachers Retirement System boosted its position in Rollins by 5,022.4% in the 2nd quarter. California State Teachers Retirement System now owns 20,917,333 shares of the business services provider's stock valued at $873,089,000 after buying an additional 20,508,985 shares during the last quarter. Norges Bank acquired a new stake in shares of Rollins in the 4th quarter valued at $244,669,000. Legal & General Group Plc acquired a new stake in shares of Rollins in the 2nd quarter valued at $84,181,000. Finally, Pictet Asset Management Holding SA raised its position in shares of Rollins by 188.2% during the first quarter. Pictet Asset Management Holding SA now owns 2,908,818 shares of the business services provider's stock worth $155,335,000 after acquiring an additional 1,899,515 shares during the last quarter. 51.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROL. Bank of America reaffirmed a "neutral" rating and set a $35.00 price target (down from $55.00) on shares of Rollins in a research note on Thursday, July 23rd. Morgan Stanley lowered their price objective on Rollins from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Piper Sandler dropped their price objective on Rollins from $72.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, July 24th. BNP Paribas Exane reduced their target price on shares of Rollins from $63.00 to $44.00 and set a "hold" rating on the stock in a research note on Friday, July 24th. Finally, Argus cut shares of Rollins from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.71.

Rollins Stock Up 0.4%

NYSE:ROL opened at $34.70 on Friday. Rollins, Inc. has a 12-month low of $34.35 and a 12-month high of $66.14. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $16.69 billion, a P/E ratio of 31.54, a P/E/G ratio of 3.72 and a beta of 0.74. The stock's fifty day simple moving average is $38.76 and its 200-day simple moving average is $47.55.

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

Rollins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 10th were issued a dividend of $0.1825 per share. The ex-dividend date was Monday, August 10th. This represents a $0.73 dividend on an annualized basis and a yield of 2.1%. 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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