CIBC Asset Management Inc boosted its stake in shares of Rollins, Inc. (NYSE:ROL) by 77.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,792 shares of the business services provider’s stock after acquiring an additional 6,024 shares during the quarter. CIBC Asset Management Inc’s holdings in Rollins were worth $837,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of ROL. Congress Asset Management Co. MA bought a new stake in Rollins during the 3rd quarter worth about $88,980,000. Morgan Stanley grew its holdings in Rollins by 51.5% during the 2nd quarter. Morgan Stanley now owns 4,304,390 shares of the business services provider’s stock worth $226,323,000 after acquiring an additional 1,463,331 shares during the last quarter. BlackRock Inc. grew its holdings in Rollins by 5.7% during the 2nd quarter. BlackRock Inc. now owns 9,515,485 shares of the business services provider’s stock worth $500,325,000 after acquiring an additional 512,690 shares during the last quarter. First Trust Advisors LP grew its holdings in Rollins by 215.2% during the 2nd quarter. First Trust Advisors LP now owns 389,117 shares of the business services provider’s stock worth $20,460,000 after acquiring an additional 265,679 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in Rollins during the 3rd quarter worth about $4,639,000. 38.92% of the stock is currently owned by hedge funds and other institutional investors.
Rollins stock opened at $61.37 on Friday. Rollins, Inc. has a 1 year low of $44.63 and a 1 year high of $64.39. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 70.54, a price-to-earnings-growth ratio of 5.73 and a beta of 0.30.
Rollins (NYSE:ROL) last released its earnings results on Wednesday, October 24th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Rollins had a net margin of 11.97% and a return on equity of 32.90%. The company had revenue of $487.70 million for the quarter, compared to the consensus estimate of $489.64 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Rollins, Inc. will post 1.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.56 dividend on an annualized basis and a yield of 0.91%. Rollins’s payout ratio is presently 64.37%.
ROL has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Rollins from a “sell” rating to a “hold” rating in a research report on Saturday, August 25th. Gabelli initiated coverage on shares of Rollins in a research report on Monday, September 17th. They set a “hold” rating and a $51.00 target price on the stock. Buckingham Research upped their target price on shares of Rollins from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, October 29th. Finally, Stifel Nicolaus restated a “hold” rating and set a $55.00 target price (up from $50.00) on shares of Rollins in a research report on Saturday, August 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.80.
Rollins Company Profile
Rollins, Inc, through its subsidiaries, provides pest and termite control services to residential and commercial customers. It offers protection against termite damage, rodents, and insects to homes and businesses, including hotels, food service establishments, food manufacturers, retailers, and transportation companies.
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