Private Advisor Group LLC Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Private Advisor Group LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 18.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,126 shares of the business services provider’s stock after purchasing an additional 1,278 shares during the period. Private Advisor Group LLC’s holdings in Cintas were worth $5,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vantage Financial Partners LLC bought a new stake in Cintas during the 4th quarter valued at $1,029,000. Aveo Capital Partners LLC lifted its stake in shares of Cintas by 4.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after purchasing an additional 44 shares during the last quarter. Principal Securities Inc. bought a new stake in Cintas during the fourth quarter valued at about $564,000. Cary Street Partners Investment Advisory LLC grew its stake in Cintas by 100.4% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 467 shares of the business services provider’s stock valued at $281,000 after purchasing an additional 234 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Cintas by 2.4% in the fourth quarter. QRG Capital Management Inc. now owns 2,182 shares of the business services provider’s stock worth $1,315,000 after purchasing an additional 52 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the sale, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.

Cintas Trading Up 2.9 %

Shares of NASDAQ:CTAS opened at $804.72 on Tuesday. 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 Co. has a 52-week low of $474.74 and a 52-week high of $812.01. The stock has a market cap of $81.09 billion, a price-to-earnings ratio of 55.57, a PEG ratio of 4.16 and a beta of 1.32. The business has a 50-day moving average price of $758.53 and a 200-day moving average price of $701.34.

Cintas shares are going to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, beating the consensus estimate of $3.80 by $0.19. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.33 EPS. Equities analysts predict that Cintas Co. will post 16.64 EPS for the current year.

Cintas Increases Dividend

The business 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 $1.56 per share. This is an increase from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is currently 43.09%.

Cintas announced that its board has approved a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and raised their price target for the company from $530.00 to $570.00 in a report on Friday, May 24th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. UBS Group increased their price objective on Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a report on Friday, July 19th. Robert W. Baird restated a “neutral” rating and set a $775.00 target price (up from $750.00) on shares of Cintas in a research note on Friday, July 19th. Finally, Stifel Nicolaus upped their target price on Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $742.36.

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.