Heritage Wealth Management Inc. Has $2.31 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Heritage Wealth Management Inc. grew its stake in Cintas Co. (NASDAQ:CTAS) by 297.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,204 shares of the business services provider’s stock after buying an additional 8,383 shares during the period. Cintas accounts for about 0.8% of Heritage Wealth Management Inc.’s holdings, making the stock its 28th largest position. Heritage Wealth Management Inc.’s holdings in Cintas were worth $2,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. Palmer Knight Co increased its position in shares of Cintas by 296.5% during the third quarter. Palmer Knight Co now owns 45,780 shares of the business services provider’s stock valued at $9,425,000 after purchasing an additional 34,235 shares during the period. Reik & CO. LLC raised its position in Cintas by 296.1% in the 3rd quarter. Reik & CO. LLC now owns 245,873 shares of the business services provider’s stock worth $50,620,000 after purchasing an additional 183,796 shares during the last quarter. Summit Global Investments increased its position in Cintas by 117.4% in the third quarter. Summit Global Investments now owns 1,085 shares of the business services provider’s stock worth $224,000 after purchasing an additional 586 shares during the period. Bensler LLC raised its holdings in Cintas by 314.0% during the 3rd quarter. Bensler LLC now owns 59,403 shares of the business services provider’s stock worth $12,230,000 after purchasing an additional 45,054 shares during the last quarter. Finally, Winthrop Advisory Group LLC grew its position in shares of Cintas by 289.1% during the 3rd quarter. Winthrop Advisory Group LLC now owns 1,572 shares of the business services provider’s stock worth $324,000 after buying an additional 1,168 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 2.0 %

Shares of NASDAQ CTAS traded up $4.33 during trading on Friday, reaching $223.85. The company had a trading volume of 29,898 shares, compared to its average volume of 1,446,580. The company’s fifty day moving average price is $218.46 and its 200-day moving average price is $192.79. Cintas Co. has a 12 month low of $131.24 and a 12 month high of $223.86. The stock has a market cap of $90.28 billion, a P/E ratio of 55.43, a PEG ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS 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 during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $3.70 EPS. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has initiated a stock repurchase 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Cintas Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.70%. Cintas’s payout ratio is currently 39.39%.

Analyst Ratings Changes

A number of research firms recently commented on CTAS. Wells Fargo & Company upped their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. UBS Group upped their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note 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 report on Thursday, September 26th. Finally, Stifel Nicolaus raised their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas 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.