Cintas Co. (NASDAQ:CTAS) Shares Bought by Cedrus LLC

Cedrus LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 280.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,752 shares of the business services provider’s stock after buying an additional 2,029 shares during the quarter. Cedrus LLC’s holdings in Cintas were worth $567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Creative Planning raised its position in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Cintas by 2,063.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after purchasing an additional 22,700 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Cintas by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after purchasing an additional 838 shares during the last quarter. Ullmann Wealth Partners Group LLC lifted its stake in Cintas by 281.9% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 8,887 shares of the business services provider’s stock valued at $1,830,000 after buying an additional 6,560 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Cintas by 111.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after buying an additional 3,878 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.

Cintas Stock Up 0.1 %

Shares of NASDAQ:CTAS opened at $214.02 on Friday. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37. The stock has a 50-day simple moving average of $214.61 and a 200-day simple moving average of $188.99. 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 market capitalization of $21.72 billion, a P/E ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. Equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has initiated a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is presently 10.77%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CTAS shares. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Barclays lifted their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $199.63.

Cintas Company 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.