Scientech Research LLC Acquires New Stake in Cintas Co. (NASDAQ:CTAS)

Scientech Research LLC acquired a new stake in Cintas Co. (NASDAQ:CTAS) during the 2nd quarter, HoldingsChannel reports. The firm acquired 3,867 shares of the business services provider’s stock, valued at approximately $2,708,000. Cintas accounts for about 0.6% of Scientech Research LLC’s investment portfolio, making the stock its 13th largest holding.

Several other institutional investors have also bought and sold shares of CTAS. Nisa Investment Advisors LLC lifted its position in shares of Cintas by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after acquiring an additional 838 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Cintas by 111.5% during the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock worth $5,151,000 after acquiring an additional 3,878 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in shares of Cintas by 105.7% in the second quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock worth $3,515,000 after buying an additional 2,580 shares in the last quarter. Journey Advisory Group LLC raised its position in shares of Cintas by 17.1% in the second quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock worth $4,511,000 after buying an additional 940 shares in the last quarter. Finally, Bensler LLC raised its position in shares of Cintas by 4.7% in the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock worth $10,048,000 after buying an additional 646 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.1 %

CTAS opened at $207.01 on Friday. The firm has a 50-day simple moving average of $208.63 and a two-hundred day simple moving average of $183.66. Cintas Co. has a 52 week low of $118.68 and a 52 week high of $211.57. The company has a market capitalization of $21.00 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Analysts forecast that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

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

Cintas Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Thursday, August 15th. 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 dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CTAS shares. Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group increased their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Barclays reduced their target price on Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cintas presently has an average rating of “Hold” and an average price target of $197.30.

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.