HM Payson & Co. Purchases 2,018 Shares of Cintas Co. (NASDAQ:CTAS)

HM Payson & Co. grew its position in Cintas Co. (NASDAQ:CTAS) by 195.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,048 shares of the business services provider’s stock after purchasing an additional 2,018 shares during the period. HM Payson & Co.’s holdings in Cintas were worth $628,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CTAS. LGT Financial Advisors LLC increased its position in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the second quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas in the first quarter valued at about $29,000. Finally, Grove Bank & Trust increased its position in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 1.0 %

Shares of CTAS stock opened at $205.81 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $83.00 billion, a P/E ratio of 51.97, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The stock has a 50 day simple moving average of $217.58 and a 200 day simple moving average of $191.39. Cintas Co. has a 1 year low of $125.62 and a 1 year high of $215.37.

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

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

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CTAS shares. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Barclays boosted their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. The Goldman Sachs Group boosted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley boosted their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.63.

About Cintas

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.