Cintas Co. (NASDAQ:CTAS) Shares Bought by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,976 shares of the business services provider’s stock after buying an additional 1,482 shares during the period. Crescent Grove Advisors LLC’s holdings in Cintas were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Impax Asset Management Group plc raised its stake in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its position in shares of Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after buying an additional 1,222,500 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Cintas by 295.6% in the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after buying an additional 586,271 shares in the last quarter. Legal & General Group Plc boosted its position in Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after acquiring an additional 3,471 shares during the last quarter. Finally, National Pension Service boosted its position in Cintas by 362.8% during the third quarter. National Pension Service now owns 736,193 shares of the business services provider’s stock worth $151,567,000 after acquiring an additional 577,135 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CTAS shares. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. The Goldman Sachs Group increased their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Robert W. Baird raised 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. Finally, Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 3.8 %

Shares of Cintas stock opened at $217.02 on Thursday. 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 company has a fifty day simple moving average of $218.46 and a 200-day simple moving average of $192.79. The stock has a market cap of $87.52 billion, a price-to-earnings ratio of 54.80, a PEG ratio of 4.05 and a beta of 1.32. Cintas Co. has a 12-month low of $129.15 and a 12-month high of $217.51.

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

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s payout ratio is 39.39%.

Cintas declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.