Orgel Wealth Management LLC Buys 1,500 Shares of Cintas Co. (NASDAQ:CTAS)

Orgel Wealth Management LLC raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, Holdings Channel reports. The firm owned 2,000 shares of the business services provider’s stock after acquiring an additional 1,500 shares during the period. Orgel Wealth Management LLC’s holdings in Cintas were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. Legal & General Group Plc raised its position in shares of Cintas by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after buying an additional 3,471 shares in the last quarter. Nordea Investment Management AB raised its position in Cintas by 6.3% in the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after purchasing an additional 37,727 shares during the period. SG Americas Securities LLC raised its position in Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after purchasing an additional 486,500 shares during the period. Acadian Asset Management LLC raised its position in Cintas by 21.1% in the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after purchasing an additional 67,440 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CTAS shares. Stifel Nicolaus increased their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Robert W. Baird increased their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their price objective 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. Finally, Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.10% of the stock is owned by insiders.

Cintas Price Performance

NASDAQ CTAS opened at $214.02 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm’s 50 day moving average price is $214.61 and its 200-day moving average price is $188.85. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $215.37. The company has a market cap of $21.72 billion, a PE ratio of 14.78, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $3.70 earnings per share. Sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.73%. Cintas’s dividend payout ratio (DPR) is 10.77%.

Cintas declared that its board has initiated a share buyback 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.