CIBC Asset Management Inc Buys 3,366 Shares of Rollins, Inc. (NYSE:ROL)

CIBC Asset Management Inc raised its stake in shares of Rollins, Inc. (NYSE:ROL) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,939 shares of the business services provider’s stock after purchasing an additional 3,366 shares during the period. CIBC Asset Management Inc’s holdings in Rollins were worth $2,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ROL. Fiera Capital Corp bought a new position in Rollins during the third quarter valued at approximately $43,225,000. Cetera Investment Advisers grew its holdings in shares of Rollins by 4,697.4% in the first quarter. Cetera Investment Advisers now owns 324,109 shares of the business services provider’s stock valued at $14,997,000 after purchasing an additional 317,353 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Rollins by 350.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 368,521 shares of the business services provider’s stock worth $17,118,000 after purchasing an additional 286,780 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Rollins during the second quarter valued at $13,580,000. Finally, Assenagon Asset Management S.A. lifted its position in Rollins by 185.0% during the second quarter. Assenagon Asset Management S.A. now owns 384,935 shares of the business services provider’s stock valued at $18,781,000 after purchasing an additional 249,860 shares during the last quarter. Institutional investors own 51.79% of the company’s stock.

Insider Buying and Selling at Rollins

In related news, major shareholder Timothy Curtis Rollins sold 14,750 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.88, for a total value of $735,730.00. Following the completion of the transaction, the insider now directly owns 124,214 shares of the company’s stock, valued at $6,195,794.32. This trade represents a 10.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Elizabeth B. Chandler sold 4,685 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $50.74, for a total transaction of $237,716.90. Following the sale, the insider now directly owns 89,338 shares in the company, valued at approximately $4,533,010.12. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,120 shares of company stock worth $1,209,993 over the last three months. Corporate insiders own 4.69% of the company’s stock.

Rollins Stock Down 1.1 %

Shares of NYSE ROL opened at $49.50 on Wednesday. The stock has a market capitalization of $23.97 billion, a PE ratio of 51.56 and a beta of 0.70. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 0.34. Rollins, Inc. has a 12-month low of $39.20 and a 12-month high of $52.16. The stock’s fifty day simple moving average is $49.57 and its two-hundred day simple moving average is $48.77.

Rollins (NYSE:ROL) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $916.27 million during the quarter, compared to analysts’ expectations of $911.15 million. Rollins had a net margin of 14.18% and a return on equity of 38.67%. Rollins’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. As a group, analysts expect that Rollins, Inc. will post 0.99 EPS for the current fiscal year.

Rollins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be given a dividend of $0.165 per share. This is a boost from Rollins’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, November 12th. This represents a $0.66 dividend on an annualized basis and a yield of 1.33%. Rollins’s dividend payout ratio is presently 68.75%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ROL shares. Barclays initiated coverage on shares of Rollins in a research report on Monday, November 4th. They set an “equal weight” rating and a $50.00 target price on the stock. Wells Fargo & Company boosted their price objective on Rollins from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. StockNews.com lowered Rollins from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Rollins in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.83.

About Rollins

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.