Cintas Co. (NASDAQ:CTAS) Shares Bought by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC increased its stake in Cintas Co. (NASDAQ:CTAS) by 284.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,857 shares of the business services provider’s stock after acquiring an additional 23,562 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Cintas were worth $6,559,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. increased its holdings in shares of Cintas by 12.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after buying an additional 58 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in Cintas during the fourth quarter worth about $343,000. Nomura Holdings Inc. raised its holdings in shares of Cintas by 26.4% in the 4th quarter. Nomura Holdings Inc. now owns 1,734 shares of the business services provider’s stock worth $1,045,000 after purchasing an additional 362 shares during the period. Rise Advisors LLC acquired a new stake in Cintas during the 1st quarter worth approximately $30,000. Finally, RFG Advisory LLC acquired a new stake in Cintas in the 1st quarter valued at $228,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

CTAS stock opened at $214.02 on Friday. The firm has a market capitalization of $21.72 billion, a PE ratio of 14.78, a P/E/G ratio of 4.12 and a beta of 1.32. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $214.61 and a two-hundred day moving average of $188.85.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 16.80% and a return on equity of 39.56%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.70 earnings per share. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has initiated a share 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 buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. Cintas’s dividend payout ratio is presently 10.77%.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the 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 sale, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

CTAS has been the topic of a number of research reports. Stifel Nicolaus increased their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. 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. Barclays upped their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. UBS Group upped their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company lifted 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.