Claro Advisors LLC Acquires New Position in Cintas Co. (NASDAQ:CTAS)

Claro Advisors LLC purchased a new stake in Cintas Co. (NASDAQ:CTAS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,945 shares of the business services provider’s stock, valued at approximately $1,636,000.

A number of other large investors have also made changes to their positions in the stock. Creative Planning raised its stake in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in Cintas by 2,063.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock valued at $16,666,000 after acquiring an additional 22,700 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Cintas by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after acquiring an additional 838 shares during the period. Ullmann Wealth Partners Group LLC increased its stake in Cintas by 281.9% during the third quarter. Ullmann Wealth Partners Group LLC now owns 8,887 shares of the business services provider’s stock worth $1,830,000 after acquiring an additional 6,560 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Cintas by 111.5% in the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after purchasing an additional 3,878 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $214.02 on Friday. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37. The stock has a market capitalization of $21.72 billion, a PE ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a 50-day simple moving average of $214.61 and a 200-day simple moving average of $188.85.

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

Cintas Cuts Dividend

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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTAS. Royal Bank of Canada raised their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Jefferies Financial Group decreased their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Finally, Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s 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 completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.10% of the stock is owned by insiders.

Cintas 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.