Westfield Capital Management Co. LP Buys 1,785,300 Shares of Rollins, Inc. $ROL

Westfield Capital Management Co. LP grew its position in Rollins, Inc. (NYSE:ROL) by 1,923.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,878,134 shares of the business services provider’s stock after purchasing an additional 1,785,300 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.39% of Rollins worth $105,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB increased its stake in Rollins by 196.2% in the 2nd quarter. AMF Tjanstepension AB now owns 3,542,898 shares of the business services provider’s stock worth $199,937,000 after buying an additional 2,346,592 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Rollins in the first quarter valued at about $59,073,000. Nuveen LLC bought a new position in shares of Rollins in the first quarter worth about $54,685,000. Vanguard Group Inc. grew its position in shares of Rollins by 3.0% during the first quarter. Vanguard Group Inc. now owns 34,736,543 shares of the business services provider’s stock worth $1,876,815,000 after purchasing an additional 999,797 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Rollins during the first quarter worth about $50,547,000. 51.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ROL has been the subject of a number of research analyst reports. Canaccord Genuity Group set a $55.00 price objective on shares of Rollins and gave the company a “hold” rating in a report on Friday, October 31st. JPMorgan Chase & Co. began coverage on shares of Rollins in a report on Friday, September 26th. They issued an “overweight” rating and a $70.00 price target on the stock. Piper Sandler boosted their price target on shares of Rollins from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Jefferies Financial Group set a $66.00 price objective on Rollins and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Rollins in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.42.

Insider Buying and Selling

In other Rollins news, insider Thomas D. Tesh sold 2,395 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $57.77, for a total value of $138,359.15. Following the sale, the insider owned 34,732 shares in the company, valued at $2,006,467.64. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.47% of the stock is owned by company insiders.

Rollins Stock Up 0.8%

NYSE ROL opened at $59.11 on Thursday. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of 55.61 and a beta of 0.72. Rollins, Inc. has a 52 week low of $45.34 and a 52 week high of $60.35. The company has a fifty day moving average of $57.27 and a two-hundred day moving average of $57.00. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 0.34.

Rollins (NYSE:ROL) last announced its quarterly earnings data on Wednesday, October 29th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. Rollins had a net margin of 14.02% and a return on equity of 38.66%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. On average, analysts predict that Rollins, Inc. will post 1.09 earnings per share for the current year.

Rollins Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a dividend of $0.1825 per share. This represents a $0.73 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, November 10th. This is an increase from Rollins’s previous quarterly dividend of $0.17. Rollins’s dividend payout ratio (DPR) is presently 68.22%.

Rollins Profile

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.