Maven Securities LTD Sells 466 Shares of Cintas Co. (NASDAQ:CTAS)

Maven Securities LTD trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 40.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 699 shares of the business services provider’s stock after selling 466 shares during the quarter. Maven Securities LTD’s holdings in Cintas were worth $489,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTAS. Checchi Capital Advisers LLC boosted its holdings in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after acquiring an additional 14 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after buying an additional 14 shares during the last quarter. Field & Main Bank raised its holdings in shares of Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares during the last quarter. Drive Wealth Management LLC boosted its stake in shares of Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after buying an additional 16 shares during the last quarter. Finally, TIAA Trust National Association lifted its stake in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 16 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

CTAS opened at $205.30 on Thursday. Cintas Co. has a 1-year low of $119.73 and a 1-year high of $211.57. The stock has a market cap of $20.83 billion, a P/E ratio of 14.18, a P/E/G ratio of 4.09 and a beta of 1.32. The stock’s 50 day simple moving average is $209.77 and its 200 day simple moving average is $185.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52.

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. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.70 earnings per share. As a group, equities analysts anticipate that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 10.77%.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic assumed coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Finally, Royal Bank of Canada lifted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and an average price target of $199.63.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 approximately $24,083,425.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.10% of the stock is currently owned by company insiders.

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.