Acadian Asset Management LLC Grows Stake in Cintas Co. (NASDAQ:CTAS)

Acadian Asset Management LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 21.1% during the second quarter, Holdings Channel reports. The firm owned 387,510 shares of the business services provider’s stock after buying an additional 67,440 shares during the quarter. Cintas comprises approximately 0.8% of Acadian Asset Management LLC’s holdings, making the stock its 20th biggest position. Acadian Asset Management LLC’s holdings in Cintas were worth $271,323,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC raised its stake in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares during the last quarter. Field & Main Bank raised its position in Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after acquiring an additional 15 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares in the last quarter. TIAA Trust National Association grew its position in shares of Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 16 shares during the last quarter. Finally, Capital CS Group LLC increased its stake in shares of Cintas by 1.9% during the 2nd quarter. Capital CS Group LLC now owns 920 shares of the business services provider’s stock worth $644,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 1,100 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the sale, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of analyst reports. UBS Group increased their target price on Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a report on Friday, July 19th. Morgan Stanley lifted their price objective on Cintas from $575.00 to $625.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and upped their target price for the company from $530.00 to $570.00 in a report on Friday, May 24th. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Barclays boosted their price objective on shares of Cintas from $700.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $742.36.

Cintas Trading Down 2.1 %

CTAS stock opened at $781.90 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company has a market cap of $79.33 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 4.28 and a beta of 1.32. The business has a fifty day simple moving average of $756.32 and a 200-day simple moving average of $699.52. Cintas Co. has a 52 week low of $474.74 and a 52 week high of $812.01.

Cintas’s stock is going to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly issued shares will be issued to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company earned $3.33 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Cintas Co. will post 16.64 EPS for the current year.

Cintas announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $1.56 dividend. The ex-dividend date was Thursday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a yield of 0.80%. Cintas’s dividend payout ratio (DPR) is 43.09%.

Cintas Company 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.