Cintas Co. (NASDAQ:CTAS) Shares Purchased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,092 shares of the business services provider’s stock after acquiring an additional 120 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Cintas were worth $31,576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ieq Capital LLC grew its position in Cintas by 6.1% during the 2nd quarter. Ieq Capital LLC now owns 12,276 shares of the business services provider’s stock worth $8,596,000 after purchasing an additional 702 shares during the last quarter. XTX Topco Ltd purchased a new position in Cintas during the 2nd quarter worth $3,664,000. Sienna Gestion boosted its holdings in shares of Cintas by 12.5% in the second quarter. Sienna Gestion now owns 702 shares of the business services provider’s stock valued at $491,000 after acquiring an additional 78 shares in the last quarter. Seven Eight Capital LP boosted its holdings in shares of Cintas by 28.2% in the second quarter. Seven Eight Capital LP now owns 486 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 107 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Cintas by 18.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,811 shares of the business services provider’s stock valued at $8,257,000 after acquiring an additional 1,832 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CTAS shares. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a report on Tuesday, August 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $193.75 target price (up previously from $187.50) on shares of Cintas in a report on Friday, July 19th. Morgan Stanley lifted their target price on shares of Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a report on Friday, July 19th. UBS Group raised their price objective on shares of Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $186.30.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the business’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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.10% of the stock is owned by insiders.

Cintas Stock Performance

NASDAQ:CTAS opened at $203.74 on Friday. The firm has a 50 day simple moving average of $206.29 and a 200-day simple moving average of $181.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The firm has a market cap of $20.67 billion, a PE ratio of 14.07, a P/E/G ratio of 4.36 and a beta of 1.32. Cintas Co. has a 1-year low of $118.68 and a 1-year high of $209.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. The company’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 Cuts Dividend

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

Cintas announced that its board has initiated a stock repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors 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.