Dynamic Advisor Solutions LLC Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Dynamic Advisor Solutions LLC boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 262.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,299 shares of the business services provider’s stock after purchasing an additional 941 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Cintas were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC boosted its holdings in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas in the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas in the first quarter worth $29,000. Rise Advisors LLC acquired a new position in shares of Cintas during the first quarter worth $30,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CTAS shares. Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley upped their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Finally, UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $199.63.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 15.10% of the stock is currently owned by company insiders.

Cintas Stock Up 0.9 %

Cintas stock opened at $208.05 on Monday. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $211.57. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The business’s 50-day moving average price is $212.01 and its 200 day moving average price is $187.64. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

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

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. 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 0.75%. Cintas’s payout ratio is 10.77%.

Cintas declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.