Keybank National Association OH lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,003 shares of the business services provider’s stock after selling 492 shares during the quarter. Keybank National Association OH’s holdings in Cintas were worth $2,682,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Eads & Heald Wealth Management lifted its holdings in shares of Cintas by 1.8% in the 3rd quarter. Eads & Heald Wealth Management now owns 2,248 shares of the business services provider’s stock worth $603,000 after buying an additional 39 shares during the period. Lenox Wealth Management Inc. lifted its holdings in shares of Cintas by 20.5% in the 2nd quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock worth $55,000 after buying an additional 40 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of Cintas by 1.6% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 2,755 shares of the business services provider’s stock worth $654,000 after buying an additional 44 shares during the period. D.B. Root & Company LLC lifted its holdings in shares of Cintas by 2.7% in the 2nd quarter. D.B. Root & Company LLC now owns 1,916 shares of the business services provider’s stock worth $454,000 after buying an additional 50 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Cintas by 1.8% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,833 shares of the business services provider’s stock worth $672,000 after buying an additional 50 shares during the period. Institutional investors own 67.04% of the company’s stock.
CTAS has been the subject of several research reports. Morgan Stanley upped their target price on Cintas from $217.00 to $223.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Barclays set a $295.00 target price on Cintas and gave the stock a “buy” rating in a report on Friday, September 27th. Robert W. Baird upped their target price on Cintas from $267.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. ValuEngine cut Cintas from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada upped their target price on Cintas from $267.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $262.40.
Shares of NASDAQ CTAS traded down $1.12 during mid-day trading on Friday, reaching $260.88. 630,000 shares of the company were exchanged, compared to its average volume of 519,670. Cintas Co. has a 1 year low of $155.98 and a 1 year high of $277.85. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.87. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 34.33, a P/E/G ratio of 3.00 and a beta of 0.99. The firm has a 50-day moving average of $265.44 and a 200 day moving average of $247.67.
Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 24th. The business services provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.17. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. Cintas had a return on equity of 28.61% and a net margin of 13.18%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 earnings per share. On average, equities analysts forecast that Cintas Co. will post 8.57 earnings per share for the current year.
The firm also recently declared an annual dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a dividend of $2.55 per share. The ex-dividend date of this dividend is Thursday, November 7th. Cintas’s dividend payout ratio is currently 26.97%.
Cintas declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other Cintas news, CAO Michael Lawrence Thompson sold 2,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $268.23, for a total transaction of $536,460.00. Following the transaction, the chief accounting officer now owns 62,906 shares in the company, valued at $16,873,276.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.90% of the company’s stock.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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