IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $231,000 in Cintas Co. (NASDAQ:CTAS)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,124 shares of the business services provider’s stock, valued at approximately $231,000.

Several other large investors have also recently modified their holdings of the stock. Legal & General Group Plc raised its position in shares of Cintas by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after purchasing an additional 3,471 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Cintas by 6.3% in the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after purchasing an additional 37,727 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after purchasing an additional 486,500 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of 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 purchasing an additional 67,440 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Stifel Nicolaus lifted their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada lifted their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Up 0.4 %

NASDAQ CTAS opened at $213.82 on Friday. The stock’s 50 day moving average is $214.11 and its 200 day moving average is $188.54. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The stock has a market cap of $21.69 billion, a PE ratio of 14.77, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.70 EPS. Research analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The company also recently disclosed 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 0.73%. Cintas’s dividend payout ratio (DPR) is 10.77%.

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

Insider Transactions at Cintas

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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.10% of the company’s stock.

About Cintas

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.