Etesian Wealth Advisors Inc. Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Etesian Wealth Advisors Inc. raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,360 shares of the business services provider’s stock after purchasing an additional 5,520 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Cintas were worth $1,515,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. boosted its stake in Cintas by 12.6% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after purchasing an additional 58 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in Cintas in the 4th quarter worth about $343,000. Nomura Holdings Inc. boosted its stake in 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 in the last quarter. Rise Advisors LLC bought a new position in Cintas in the 1st quarter worth about $30,000. Finally, RFG Advisory LLC bought a new position in Cintas in the 1st quarter worth about $228,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

CTAS traded up $0.20 during trading on Friday, reaching $214.02. 1,248,001 shares of the company traded hands, compared to its average volume of 1,475,704. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $215.37. The firm has a fifty day simple moving average of $214.61 and a 200 day simple moving average of $188.85. The company has a market cap of $21.72 billion, a P/E ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm posted $3.70 EPS. The company’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Cintas Co. will post 4.23 EPS for the current 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 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas declared that its board has approved a stock repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays boosted their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley boosted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Stifel Nicolaus boosted their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.10% of the stock is currently owned by 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.