Cintas Co. (NASDAQ:CTAS) Shares Acquired by Mattern Wealth Management LLC

by · The Markets Daily

Mattern Wealth Management LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS – Free Report) by 300.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,200 shares of the business services provider’s stock after purchasing an additional 900 shares during the quarter. Mattern Wealth Management LLC’s holdings in Cintas were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its stake in shares of Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after acquiring an additional 4,957 shares during the period. Susquehanna Fundamental Investments LLC raised its position in Cintas by 2,063.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock valued at $16,666,000 after purchasing an additional 22,700 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Cintas by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after purchasing an additional 838 shares in the last quarter. Western Financial Corp CA boosted its position in shares of Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after buying an additional 10,177 shares during the period. Finally, Ullmann Wealth Partners Group LLC boosted its position in shares of Cintas by 281.9% in the third quarter. Ullmann Wealth Partners Group LLC now owns 8,887 shares of the business services provider’s stock worth $1,830,000 after buying an additional 6,560 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of CTAS traded up $0.17 during trading hours on Tuesday, hitting $211.72. 294,182 shares of the company were exchanged, compared to its average volume of 1,466,596. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The company has a market capitalization of $21.48 billion, a PE ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a fifty day simple moving average of $215.04 and a 200-day simple moving average of $189.44.

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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has authorized a share repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding 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 an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CTAS shares. UBS Group increased their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group cut their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Wells Fargo & Company increased their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic started coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Get Our Latest Stock Analysis on Cintas

Cintas Company 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.

See Also

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