Point72 Asset Management L.P. Buys New Shares in Rollins, Inc. (NYSE:ROL)

Defense World · Dec 11, 2022 20:22

Point72 Asset Management L.P. bought a new stake in Rollins, Inc. (NYSE:ROL – Get Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 179,600 shares of the business services provider's stock, valued at approximately $6,272,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ROL. CX Institutional acquired a new stake in shares of Rollins in the second quarter valued at about $33,000. Ronald Blue Trust Inc. bought a new position in Rollins during the second quarter worth about $43,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Rollins by 72.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,626 shares of the business services provider's stock worth $57,000 after purchasing an additional 685 shares during the period. Newfound Research LLC bought a new position in Rollins during the second quarter worth about $70,000. Finally, Point72 Hong Kong Ltd bought a new position in Rollins during the first quarter worth about $80,000. Institutional investors and hedge funds own 38.98% of the company's stock.

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Insider Activity

In other news, Vice Chairman John F. Wilson sold 32,000 shares of Rollins stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $39.54, for a total value of $1,265,280.00. Following the completion of the sale, the insider now directly owns 804,580 shares in the company, valued at $31,813,093.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Rollins news, Vice Chairman John F. Wilson sold 32,000 shares of the business's stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $39.54, for a total transaction of $1,265,280.00. Following the completion of the transaction, the insider now directly owns 804,580 shares in the company, valued at $31,813,093.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth B. Chandler sold 7,871 shares of the business's stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $42.41, for a total transaction of $333,809.11. Following the transaction, the insider now owns 93,016 shares of the company's stock, valued at $3,944,808.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,871 shares of company stock worth $1,895,089. Corporate insiders own 53.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Rollins from $37.00 to $39.00 and gave the stock an "equal weight" rating in a report on Thursday, October 27th. StockNews.com upgraded Rollins from a "hold" rating to a "buy" rating in a report on Thursday, October 27th. Jefferies Financial Group initiated coverage on Rollins in a report on Tuesday, October 25th. They set a "hold" rating and a $36.00 price objective for the company. Finally, Royal Bank of Canada upgraded Rollins from a "sector perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a report on Tuesday, September 6th.

Rollins Stock Down 1.9 %

NYSE ROL opened at $38.51 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. Rollins, Inc. has a 1-year low of $28.50 and a 1-year high of $43.06. The company has a 50 day moving average of $39.33 and a 200-day moving average of $36.86. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 55.01 and a beta of 0.62.

Rollins (NYSE:ROL – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The business services provider reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. Rollins had a net margin of 13.12% and a return on equity of 30.96%. The company had revenue of $729.70 million during the quarter, compared to the consensus estimate of $713.55 million. On average, equities research analysts expect that Rollins, Inc. will post 0.73 earnings per share for the current fiscal year.

Rollins Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Thursday, November 10th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Rollins's previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, November 9th. Rollins's payout ratio is presently 74.29%.

About Rollins

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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.