Intech Investment Management LLC Decreases Position in Cintas Co. (NASDAQ:CTAS)

Intech Investment Management LLC lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,836 shares of the business services provider’s stock after selling 329 shares during the quarter. Intech Investment Management LLC’s holdings in Cintas were worth $6,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the second quarter valued at about $27,000. Pathway Financial Advisers LLC purchased a new position in shares of Cintas in the first quarter valued at about $29,000. Rise Advisors LLC purchased a new position in shares of Cintas in the first quarter valued at about $30,000. Finally, Meeder Asset Management Inc. increased its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.2 %

NASDAQ:CTAS opened at $204.16 on Friday. Cintas Co. has a one year low of $118.68 and a one year high of $209.12. 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 company’s 50-day simple moving average is $206.76 and its 200 day simple moving average is $182.29. The firm has a market capitalization of $20.71 billion, a P/E ratio of 14.10, a PEG ratio of 4.36 and a beta of 1.32.

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

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

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio is presently 10.77%.

Insider Transactions at Cintas

In other 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 value of $842,292.00. Following the transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CTAS shares. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Barclays decreased their price objective on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. UBS Group lifted their target price 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. Citigroup lowered shares of Cintas from a “neutral” rating to a “sell” rating and lifted their target price for the company from $132.50 to $142.50 in a research note on Friday, May 24th. Finally, Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $186.30.

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.