Wellington Management Group LLP Sells 198,859 Shares of Rollins, Inc. $ROL

Key Points

• Wellington Management reduced its Rollins stake by 6.5%, selling 198,859 shares in the second quarter and retaining 2.87 million shares worth approximately $119.7 million. Institutional investors collectively own 51.79% of the company.
• Analyst sentiment has weakened, with several firms downgrading Rollins or cutting price targets. The stock carries a consensus “Hold” rating and an average target price of $48.71.
• Rollins reported quarterly revenue of $1.08 billion, up 7.9% year over year, but earnings of $0.32 per share missed estimates by $0.02. The company declared a quarterly dividend of $0.1825 per share, representing a 2.0% annualized yield.

Wellington Management Group LLP lowered its stake in shares of Rollins, Inc. (NYSE:ROL - Free Report) by 6.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,867,717 shares of the business services provider's stock after selling 198,859 shares during the period. Wellington Management Group LLP owned approximately 0.60% of Rollins worth $119,699,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ROL. DV Equities LLC bought a new position in Rollins during the fourth quarter valued at about $25,000. Cornerstone Planning Group LLC raised its holdings in Rollins by 528.4% in the 4th quarter. Cornerstone Planning Group LLC now owns 421 shares of the business services provider's stock valued at $26,000 after acquiring an additional 354 shares in the last quarter. Westpac Banking Corp bought a new stake in shares of Rollins in the 2nd quarter worth approximately $42,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Rollins during the fourth quarter valued at approximately $43,000. Finally, Quarry LP increased its position in shares of Rollins by 155.2% during the fourth quarter. Quarry LP now owns 740 shares of the business services provider's stock valued at $44,000 after purchasing an additional 450 shares during the period. Institutional investors own 51.79% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on ROL. Sanford C. Bernstein cut Rollins from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $70.00 to $52.00 in a research report on Friday, May 29th. Morgan Stanley lowered their price target 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. JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 price objective (down from $70.00) on shares of Rollins in a research note on Friday, July 24th. Argus downgraded shares of Rollins from a "buy" rating to a "hold" rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company cut shares of Rollins from an "overweight" rating to an "underweight" rating and lowered their target price for the company from $46.00 to $32.00 in a research note on Friday, July 24th. One investment 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $48.71.

Rollins Price Performance

NYSE:ROL opened at $36.17 on Wednesday. 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 cap of $17.40 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. Rollins, Inc. has a 12 month low of $35.81 and a 12 month high of $66.14. The company's 50-day moving average price is $39.99 and its two-hundred day moving average price is $48.84.

Rollins (NYSE:ROL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $0.30 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Rollins, Inc. will post 1.18 EPS for the current fiscal year.

Rollins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $0.1825 dividend. This represents a $0.73 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 10th. Rollins's payout ratio is 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.

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