Livforsakringsbolaget Skandia Omsesidigt Buys 3,398 Shares of Cintas Co. (NASDAQ:CTAS)

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 1,317.1% in the third quarter, HoldingsChannel reports. The firm owned 3,656 shares of the business services provider’s stock after buying an additional 3,398 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cintas were worth $753,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Creative Planning increased its stake in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Cintas by 2,063.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after buying an additional 22,700 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after buying an additional 838 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Cintas by 111.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after buying an additional 3,878 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its holdings in shares of Cintas by 105.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after acquiring an additional 2,580 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Up 0.9 %

Shares of NASDAQ CTAS opened at $208.05 on Monday. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $211.57. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $212.01 and a two-hundred day simple moving average of $187.64. The firm has a market cap of $21.11 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32.

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

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 10.77%.

Cintas declared that its board has approved a stock repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CTAS shares. Morgan Stanley upped their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group raised their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Royal Bank of Canada raised their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Two equities 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 company. Based on data from MarketBeat.com, the company presently has a consensus 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 Cintas stock in a transaction 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 transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.10% of the stock is 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.