Lockerman Financial Group Inc. Grows Stake in Cintas Co. (NASDAQ:CTAS)

Lockerman Financial Group Inc. grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 291.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,698 shares of the business services provider’s stock after buying an additional 1,264 shares during the period. Lockerman Financial Group Inc.’s holdings in Cintas were worth $350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LGT Financial Advisors LLC increased its position in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Cintas during the second quarter valued at about $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the first quarter worth about $29,000. Rise Advisors LLC purchased a new stake in Cintas in the first quarter worth about $30,000. Finally, Grove Bank & Trust boosted its position in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.10% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS traded down $0.80 on Tuesday, hitting $210.70. The stock had a trading volume of 1,317,586 shares, compared to its average volume of 1,480,127. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $213.05. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. 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’s 50-day simple moving average is $212.54 and its two-hundred day simple moving average is $187.92.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.70 earnings per share. As a group, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently declared 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. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio is presently 10.77%.

Analyst Ratings Changes

A number of research analysts have recently commented on CTAS shares. Barclays raised their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus upped their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada upped their price objective 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, Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.63.

About Cintas

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.