Cintas Co. (NASDAQ:CTAS) Shares Sold by Inspire Investing LLC

Inspire Investing LLC decreased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,122 shares of the business services provider’s stock after selling 358 shares during the period. Cintas makes up approximately 1.0% of Inspire Investing LLC’s holdings, making the stock its 11th largest position. Inspire Investing LLC’s holdings in Cintas were worth $8,488,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after acquiring an additional 112,361 shares during the period. Bank of New York Mellon Corp boosted its holdings in Cintas by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 806,369 shares of the business services provider’s stock valued at $554,000,000 after purchasing an additional 27,470 shares in the last quarter. Nordea Investment Management AB increased its position in Cintas by 6.3% during 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. Acadian Asset Management LLC lifted its holdings in shares of Cintas by 21.1% in the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock valued at $271,323,000 after buying an additional 67,440 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after buying an additional 201,955 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $201.38 on Thursday. Cintas Co. has a 1-year low of $118.68 and a 1-year high of $209.12. The firm has a 50 day simple moving average of $205.79 and a 200-day simple moving average of $181.82. The firm has a market cap of $20.43 billion, a PE ratio of 13.91, a P/E/G ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that Cintas Co. will post 16.64 EPS for the current year.

Cintas declared that its board has authorized a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s payout ratio is currently 10.77%.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’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 transaction of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of a number of recent analyst reports. Citigroup downgraded Cintas from a “neutral” rating to a “sell” rating and raised their target price for the company from $132.50 to $142.50 in a report on Friday, May 24th. Truist Financial boosted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays dropped their target price on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, September 13th. UBS Group raised their price objective on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $186.30.

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.