Xponance Inc. lifted its holdings in Cintas Co. (NASDAQ:CTAS – Free Report) by 2.8% in the second quarter, Holdings Channel reports. The fund owned 20,533 shares of the business services provider’s stock after purchasing an additional 558 shares during the quarter. Xponance Inc.’s holdings in Cintas were worth $14,378,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC lifted its position 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 worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Cintas during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas during the first quarter valued at approximately $29,000. Rise Advisors LLC bought a new position in shares of Cintas during the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% during the second 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 in the last quarter. 63.46% of the stock is owned by institutional investors.
Insider Activity
In related 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 value of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.10% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Report on Cintas
Cintas Price Performance
NASDAQ:CTAS opened at $203.99 on Tuesday. Cintas Co. has a 52 week low of $118.68 and a 52 week high of $209.12. The stock’s fifty day moving average is $207.27 and its two-hundred day moving average is $182.99. The company has a market capitalization of $20.70 billion, a P/E ratio of 14.09, a P/E/G ratio of 4.36 and a beta of 1.32. 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 (NASDAQ:CTAS – Get Free Report) last released its earnings results on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. Equities analysts expect that Cintas Co. will post 16.64 EPS for the current year.
Cintas declared that its Board of Directors has authorized a stock buyback program 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 repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Cintas Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.
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.
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