Bank of Nova Scotia Takes $3.01 Million Position in Rollins, Inc. $ROL

Bank of Nova Scotia acquired a new stake in Rollins, Inc. (NYSE:ROL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 72,021 shares of the business services provider’s stock, valued at approximately $3,006,000.

Several other hedge funds also recently added to or reduced their stakes in ROL. Vanguard Group Inc. increased its stake in Rollins by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 38,282,523 shares of the business services provider’s stock worth $2,297,717,000 after acquiring an additional 1,562,241 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Rollins in the 2nd quarter valued at $1,204,334,000. State Street Corp lifted its stake in shares of Rollins by 4.7% in the 4th quarter. State Street Corp now owns 12,850,361 shares of the business services provider’s stock valued at $771,279,000 after purchasing an additional 575,946 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rollins by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 10,163,847 shares of the business services provider’s stock worth $608,256,000 after purchasing an additional 626,866 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Rollins by 8.2% during the 4th quarter. Invesco Ltd. now owns 6,089,189 shares of the business services provider’s stock worth $365,473,000 after purchasing an additional 461,869 shares during the period. 51.79% of the stock is currently owned by hedge funds and other institutional investors.

Rollins Price Performance

ROL stock opened at $36.70 on Thursday. The business has a 50 day moving average price of $40.68 and a 200 day moving average price of $49.65. 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 stock has a market cap of $17.66 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 3.98 and a beta of 0.75. Rollins, Inc. has a fifty-two week low of $35.83 and a fifty-two week high of $66.14.

Rollins (NYSE:ROL) last released its quarterly earnings data 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 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. Equities research analysts anticipate that Rollins, Inc. will post 1.18 earnings per share for the current fiscal year.

Rollins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given 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 2.0%. Rollins’s payout ratio is 66.36%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ROL shares. Argus cut shares of Rollins from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Piper Sandler dropped their target price on shares of Rollins from $72.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Citigroup initiated coverage on Rollins in a research note on Wednesday, July 15th. They set a “neutral” rating and a $46.00 price target on the stock. Barclays set a $45.00 price target on Rollins and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Sanford C. Bernstein cut Rollins from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $70.00 to $52.00 in a research note on Friday, May 29th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.71.

Rollins 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.