Quent Capital LLC Has $121,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Quent Capital LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 71.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173 shares of the business services provider’s stock after acquiring an additional 72 shares during the period. Quent Capital LLC’s holdings in Cintas were worth $121,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in shares of Cintas by 393.5% during the second quarter. Versant Capital Management Inc now owns 153 shares of the business services provider’s stock worth $107,000 after purchasing an additional 122 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cintas during the second quarter worth approximately $1,768,000. Stokes Family Office LLC increased its holdings in shares of Cintas by 1.3% during the second quarter. Stokes Family Office LLC now owns 6,923 shares of the business services provider’s stock worth $4,848,000 after purchasing an additional 92 shares during the period. DNB Asset Management AS increased its holdings in shares of Cintas by 4.1% during the second quarter. DNB Asset Management AS now owns 34,942 shares of the business services provider’s stock worth $24,468,000 after purchasing an additional 1,369 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Cintas by 44.2% during the second quarter. GAMMA Investing LLC now owns 1,270 shares of the business services provider’s stock worth $889,000 after purchasing an additional 389 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 1,100 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the sale, the director now directly owns 31,452 shares of the company’s stock, valued at $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.10% of the stock is currently owned by insiders.

Cintas Trading Up 0.8 %

Shares of NASDAQ:CTAS traded up $5.57 during mid-day trading on Tuesday, reaching $745.40. 379,693 shares of the company’s stock were exchanged, compared to its average volume of 376,820. The firm has a market capitalization of $75.63 billion, a price-to-earnings ratio of 51.86, a PEG ratio of 4.06 and a beta of 1.31. The business’s fifty day moving average price is $715.00 and its 200-day moving average price is $671.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas Co. has a twelve month low of $474.74 and a twelve month high of $773.95.

Cintas shares are scheduled to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be payable to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas announced that its Board of Directors has initiated a share buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a dividend of $1.56 per share. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a dividend yield of 0.84%. Cintas’s payout ratio is presently 43.09%.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent research reports. Barclays raised their target price on shares of Cintas from $700.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Truist Financial lifted their price objective on shares of Cintas from $775.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Stifel Nicolaus lifted their price objective on shares of Cintas from $667.00 to $798.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $530.00 to $570.00 in a research note on Friday, May 24th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $749.00.

Cintas Profile

Cintas Corporation provides 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.