Cintas Co. (NASDAQ:CTAS) Shares Purchased by Central Bank & Trust Co.

by · The Markets Daily

Central Bank & Trust Co. raised its position in Cintas Co. (NASDAQ:CTAS – Free Report) by 300.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,296 shares of the business services provider’s stock after purchasing an additional 972 shares during the quarter. Central Bank & Trust Co.’s holdings in Cintas were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. AlphaCentric Advisors LLC increased its position in Cintas by 273.4% in the 3rd quarter. AlphaCentric Advisors LLC now owns 1,012 shares of the business services provider’s stock valued at $208,000 after acquiring an additional 741 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of Cintas by 282.0% during the third quarter. Gulf International Bank UK Ltd now owns 28,896 shares of the business services provider’s stock valued at $5,949,000 after purchasing an additional 21,331 shares during the period. FSM Wealth Advisors LLC acquired a new position in shares of Cintas during the third quarter valued at $235,000. Catalyst Capital Advisors LLC raised its stake in shares of Cintas by 221.6% during the third quarter. Catalyst Capital Advisors LLC now owns 312 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 215 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 0.7 %

Cintas stock opened at $208.99 on Wednesday. The company has a 50 day moving average price of $218.11 and a 200 day moving average price of $192.62. 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 52 week low of $128.92 and a 52 week high of $215.37. The firm has a market capitalization of $84.29 billion, a price-to-earnings ratio of 52.78, a P/E/G ratio of 4.05 and a beta of 1.32.

Cintas (NASDAQ:CTAS – Get Free Report) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 earnings per share. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has initiated 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CTAS shares. Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Royal Bank of Canada upped their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Robert W. Baird raised their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Check Out Our Latest Research Report on Cintas

Cintas Profile

(Free Report)

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.

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