MBB Public Markets I LLC Has $4.55 Million Position in Cintas Co. (NASDAQ:CTAS)

MBB Public Markets I LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 1,419.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,502 shares of the business services provider’s stock after acquiring an additional 6,074 shares during the period. MBB Public Markets I LLC’s holdings in Cintas were worth $4,553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CTAS. LGT Financial Advisors LLC increased 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 worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. acquired a new stake in Cintas during the second quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the 1st quarter valued at about $29,000. Rise Advisors LLC acquired a new position in shares of Cintas in the 1st quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. lifted its stake in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 2.3 %

NASDAQ CTAS opened at $202.35 on Friday. Cintas Co. has a 12 month low of $119.69 and a 12 month high of $211.57. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $20.53 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. The business’s 50-day moving average price is $208.63 and its two-hundred day moving average price is $183.66.

Cintas (NASDAQ:CTAS) last released its earnings results 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 net margin of 16.38% and a return on equity of 37.82%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.70 EPS. On average, analysts expect that Cintas Co. will post 4.16 EPS for the current year.

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

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas’s dividend payout ratio (DPR) is currently 10.77%.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Truist Financial increased their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Two equities 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. Based on data from MarketBeat, the company currently has a consensus 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.