ZRC Wealth Management LLC Has $54,000 Stock Position in Cintas Co. (NASDAQ:CTAS)

ZRC Wealth Management LLC increased its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264 shares of the business services provider’s stock after acquiring an additional 198 shares during the period. ZRC Wealth Management LLC’s holdings in Cintas were worth $54,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Cintas by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after buying an additional 112,361 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Cintas by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after purchasing an additional 3,471 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Cintas by 6.3% during the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after purchasing an additional 37,727 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after purchasing an additional 486,500 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Cintas by 21.1% in the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after acquiring an additional 67,440 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of a number of research reports. Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Barclays lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

CTAS traded up $0.36 on Friday, hitting $204.91. 1,747,411 shares of the company’s stock were exchanged, compared to its average volume of 1,492,867. Cintas Co. has a fifty-two week low of $119.86 and a fifty-two week 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 50-day moving average price of $210.38 and a 200-day moving average price of $185.66. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results 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. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.16 earnings per share for the current year.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio is presently 10.77%.

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

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.10% of the company’s stock.

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.