Royal London Asset Management Ltd., one of the UK’s leading investment firms, has shown its faith in Rollins, Inc. by increasing its stake in the company to 10.3% according to recent reports. The move comes after Rollins stock received a series of upgrades from market experts, while Royal London Asset Management itself hailed the company as one of the best performing business service providers in the US.
Following this latest investment, Royal London Asset Management now owns 83,256 shares of the business services provider’s stock after acquiring an additional 7,788 shares during Q4. This has raised the total holdings in Rollins to $3,042,000 as per their latest filing with Securities & Exchange Commission.
What makes this particular investment stand out is the fact that it comes on the back of upgrades by several analysts. Rollins’ stock was recently upgraded from ‘hold’ to ‘buy’ by Stocknews.com on May 4th and Stifel Nicolaus also boosted their target price for shares from $37.00 to $40.00 on April 28th. Meanwhile Redburn Partners assumed coverage on rolls Share stock issuing a “buy rating” and setting a $62 target price for company on February 1st earlier this year.
Despite being rated as only a “Moderate Buy”, Bloomberg revealed that Rollins’ currently enjoys a consensus price target of $43.4 making it very attractive especially for investors looking at long-term growth and security.
Shares of NYSE:ROL swayed above its opening price ($42) yesterday trading within their yearly low-high range displaying solid upward trends between evaluations over three different moving averages is another reason why institutional investors like Royal London consider Rollins as one of their favored companies.
In summary, it’s no surprise that financial analysts are closely monitoring Royal London Assets’ continued interest in Rollins given its significant position within some key markets such as pest control. These reports could indicate a trend that Royal London Asset Management is onto something big – with Rollins, Inc – the company that has been managing pest control services to commercial and residential customers across the world since 1948. One thing is clear: Rollins could offer significant growth potential if it continues to perform consistently as one of the leading names in the US business service sector.
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Rollins Inc. Continues to Attract Institutional Investors Despite Insider Selling, Analysts Issue Buy Ratings After Q1 Earnings Beat
Rollins, Inc., the business services provider known for its pest control operations, has caught the attention of a number of large investors who have made significant changes to their positions in its stock over the past few months. Most recently, Prudential PLC grew its stake in Rollins by a staggering 328.7% in the fourth quarter, now owning 25,377 shares worth $927,000. Mercer Global Advisors Inc. ADV also saw growth by 16.3%, now owning 9,504 shares valued at $347,000. Raymond James Financial Services Advisors Inc., Machina Capital S.A.S., and Raymond James & Associates each saw growth ranging from 0.9% to 7.5%. Institutional investors currently own 38.98% of Rollins’ stock.
However, insider Vice Chairman John F. Wilson sold 40,499 shares of Rollin’s stock on April 28th at an average price of $42.45 per share- potentially indicating doubts about the company or a desire to diversify holdings.
Despite these shifts in ownership, several analysts recently issued buy ratings for the company’s stock after it reported earnings on April 26th. Rollins beat its earnings estimates with $0.18 earnings per share and had a revenue of $658 million for Q1- up from $590 million last year during the same time period.
Additionally, Rollins announced a quarterly dividend which will be paid out in June at $0.13 per share to shareholders of record as of May 10th – an annualized payout ratio of roughly 67%.
The overall consensus rating for Rollin’s stock is “Moderate Buy” with Bloomberg setting an average target price of $43.40 per share based on two hold ratings and three buy ratings by equity researchers – suggesting that there may be further potential upside for this unique business service provider catering to both commercial and residential markets.
