Franklin Resources Inc. Buys 105,767 Shares of Rollins, Inc. (NYSE:ROL)

Posted by Defense World Staff on Jun 2nd, 2023

Franklin Resources Inc. boosted its stake in shares of Rollins, Inc. (NYSE:ROL – Get Rating) by 114.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,364 shares of the business services provider’s stock after buying an additional 105,767 shares during the quarter. Franklin Resources Inc.’s holdings in Rollins were worth $7,248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROL. Eagle Bay Advisors LLC purchased a new position in Rollins during the 2nd quarter valued at about $29,000. Tobam purchased a new position in Rollins during the 4th quarter valued at about $33,000. Harvest Fund Management Co. Ltd purchased a new position in Rollins during the 4th quarter valued at about $35,000. Fred Alger Management LLC purchased a new position in Rollins during the 3rd quarter valued at about $41,000. Finally, CENTRAL TRUST Co increased its position in Rollins by 214.3% during the 4th quarter. CENTRAL TRUST Co now owns 1,760 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 38.98% of the company’s stock.

Rollins Stock Up 2.3 %

ROL stock opened at $40.22 on Friday. The firm has a 50 day moving average of $39.83 and a 200 day moving average of $38.07. The stock has a market capitalization of $19.82 billion, a PE ratio of 52.23 and a beta of 0.66. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. Rollins, Inc. has a 52 week low of $31.43 and a 52 week high of $43.06.

Rollins (NYSE:ROL – Get Rating) last released its earnings results on Wednesday, April 26th. The business services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $658.02 million during the quarter, compared to analysts’ expectations of $643.78 million. Rollins had a net margin of 13.77% and a return on equity of 31.07%. Rollins’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. Sell-side analysts forecast that Rollins, Inc. will post 0.85 earnings per share for the current year.

Rollins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Wednesday, May 10th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Tuesday, May 9th. Rollins’s dividend payout ratio (DPR) is presently 67.53%.

Insider Buying and Selling

In related news, major shareholder Timothy Curtis Rollins sold 17,982 shares of Rollins stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $41.42, for a total value of $744,814.44. Following the completion of the sale, the insider now directly owns 138,964 shares in the company, valued at approximately $5,755,888.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rollins news, Vice Chairman John F. Wilson sold 40,499 shares of Rollins stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $42.45, for a total transaction of $1,719,182.55. Following the completion of the sale, the insider now directly owns 743,992 shares in the company, valued at approximately $31,582,460.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Timothy Curtis Rollins sold 17,982 shares of Rollins stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $41.42, for a total transaction of $744,814.44. Following the sale, the insider now owns 138,964 shares of the company’s stock, valued at $5,755,888.88. The disclosure for this sale can be found here. 4.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ROL has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Rollins from $37.00 to $40.00 in a research report on Friday, April 28th. UBS Group began coverage on shares of Rollins in a research report on Wednesday. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, StockNews.com began coverage on shares of Rollins in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.17.

About Rollins

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Rollins, Inc engages in the provision of pest and termite control services through its wholly-owned subsidiaries to both residential and commercial customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, Mexico, and Australia.