NovaPoint Capital LLC Buys 990 Shares of Cintas Co. (NASDAQ:CTAS)

NovaPoint Capital LLC boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,320 shares of the business services provider’s stock after purchasing an additional 990 shares during the period. NovaPoint Capital LLC’s holdings in Cintas were worth $272,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC grew its stake in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the 1st quarter worth about $29,000. Rise Advisors LLC bought a new stake in shares of Cintas in the 1st quarter valued at about $30,000. Finally, Grove Bank & Trust lifted its stake in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cintas

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

Cintas Stock Performance

NASDAQ:CTAS opened at $214.02 on Friday. 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 fifty-two week low of $123.65 and a fifty-two week high of $215.37. The company has a market cap of $21.72 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32. The stock has a fifty day moving average price of $214.61 and a 200-day moving average price of $188.85.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm earned $3.70 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

Cintas Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on CTAS shares. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. 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. Finally, Robert W. Baird lifted their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

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.