Findlay Park Partners LLP Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)


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Findlay Park Partners LLP lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 981,963 shares of the business services provider’s stock after purchasing an additional 149,958 shares during the period. Cintas comprises approximately 2.3% of Findlay Park Partners LLP’s portfolio, making the stock its 18th largest position. Findlay Park Partners LLP owned approximately 0.94% of Cintas worth $326,827,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional raised its stake in Cintas by 35.3% during the 3rd quarter. CX Institutional now owns 115 shares of the business services provider’s stock worth $38,000 after acquiring an additional 30 shares in the last quarter. Conning Inc. increased its stake in Cintas by 2.3% in the third quarter. Conning Inc. now owns 1,343 shares of the business services provider’s stock valued at $447,000 after purchasing an additional 30 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Cintas by 54.5% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 85 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 30 shares during the period. Intersect Capital LLC increased its stake in Cintas by 4.2% in the third quarter. Intersect Capital LLC now owns 795 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 32 shares during the period. Finally, Stephens Inc. AR increased its stake in Cintas by 1.1% in the second quarter. Stephens Inc. AR now owns 3,222 shares of the business services provider’s stock valued at $858,000 after purchasing an additional 34 shares during the period. 61.68% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ CTAS traded down $6.04 on Friday, hitting $361.85. The company’s stock had a trading volume of 258,273 shares, compared to its average volume of 645,254. Cintas Co. has a 12-month low of $154.33 and a 12-month high of $369.20. The company has a market capitalization of $37.86 billion, a price-to-earnings ratio of 42.27, a price-to-earnings-growth ratio of 4.17 and a beta of 1.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.44 and a quick ratio of 1.99. The stock has a 50 day moving average of $341.39 and a 200-day moving average of $299.76.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.65. Cintas had a net margin of 13.18% and a return on equity of 27.90%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $2.32 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Cintas Co. will post 9.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 6th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 5th. This is an increase from Cintas’s previous quarterly dividend of $0.64. Cintas’s dividend payout ratio is 43.28%.

A number of research firms have commented on CTAS. Royal Bank of Canada lifted their price objective on shares of Cintas from $347.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 24th. Stifel Nicolaus lifted their price objective on shares of Cintas from $288.00 to $323.00 in a research note on Thursday, September 24th. Barclays boosted their price target on shares of Cintas from $350.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Argus started coverage on shares of Cintas in a research note on Thursday, October 1st. They set a “buy” rating and a $360.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on shares of Cintas from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $294.36.

In other news, CFO J. Michael Hansen sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $345.45, for a total value of $23,145,150.00. Following the completion of the transaction, the chief financial officer now owns 513 shares of the company’s stock, valued at $177,215.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 7,955 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $363.15, for a total transaction of $2,888,858.25. 15.80% of the stock is owned by corporate insiders.

About Cintas

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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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