Mercer Global Advisors Inc. ADV Buys 65 Shares of Cintas Co. (NASDAQ:CTAS)

Mercer Global Advisors Inc. ADV grew its position in Cintas Co. (NASDAQ:CTAS) by 1.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,664 shares of the business services provider’s stock after acquiring an additional 65 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Cintas were worth $5,053,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Checchi Capital Advisers LLC raised its position in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after buying an additional 14 shares during the period. Field & Main Bank raised its holdings in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after buying an additional 15 shares during the last quarter. Drive Wealth Management LLC boosted its position in Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after buying an additional 16 shares during the period. Finally, TIAA Trust National Association grew its holdings in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent research reports. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Truist Financial raised their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada cut Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 target price on the stock. in a report on Monday, July 15th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $186.30.

Cintas Stock Up 0.2 %

Shares of NASDAQ:CTAS opened at $204.16 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas Co. has a 52-week low of $118.68 and a 52-week high of $209.12. The business’s 50 day simple moving average is $206.76 and its two-hundred day simple moving average is $182.48. The firm has a market cap 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 results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $2.47 billion. During the same quarter last year, the firm posted $0.83 EPS. Cintas’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its board has initiated a stock buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.

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.