Swedbank AB Has $45.57 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Swedbank AB boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 308.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 221,336 shares of the business services provider’s stock after acquiring an additional 167,123 shares during the quarter. Swedbank AB’s holdings in Cintas were worth $45,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CTAS. LGT Financial Advisors LLC grew its position in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Cintas in the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas in the first quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in shares of Cintas in the first quarter valued at approximately $30,000. Finally, Grove Bank & Trust grew its position in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 0.4 %

Shares of CTAS opened at $210.70 on Wednesday. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $213.05. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a fifty day moving average of $213.03 and a 200-day moving average of $188.19.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.70 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. Cintas’s payout ratio is 10.77%.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CTAS shares. Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.