Ullmann Wealth Partners Group LLC Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Ullmann Wealth Partners Group LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 281.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,887 shares of the business services provider’s stock after purchasing an additional 6,560 shares during the period. Ullmann Wealth Partners Group LLC’s holdings in Cintas were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC raised its stake in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Cintas during the second quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter worth approximately $29,000. Rise Advisors LLC purchased a new stake in shares of Cintas during the first quarter worth approximately $30,000. Finally, Grove Bank & Trust raised its stake in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of several research analyst reports. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. The Goldman Sachs Group increased their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus increased their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Truist Financial increased their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company increased their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

Shares of CTAS traded down $0.80 during trading hours on Tuesday, reaching $210.70. 1,317,591 shares of the company traded hands, compared to its average volume of 1,480,127. 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 stock has a market capitalization of $21.38 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. Cintas Co. has a fifty-two week low of $123.65 and a fifty-two week high of $213.05. The stock has a fifty day simple moving average of $212.54 and a 200 day simple moving average of $187.92.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, research analysts predict that Cintas Co. will post 4.23 EPS 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 given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.74%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

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

Insider Buying and Selling

In other news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction dated 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 $24,083,425.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.10% of the stock is currently 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.