Scalar Gauge Management LLC Decreases Stock Position in Cintas Co. (NASDAQ:CTAS)

Scalar Gauge Management LLC trimmed its position in shares of Cintas Co. (NASDAQ:CTAS) by 28.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the business services provider’s stock after selling 2,000 shares during the period. Cintas makes up 2.0% of Scalar Gauge Management LLC’s portfolio, making the stock its 14th biggest position. Scalar Gauge Management LLC’s holdings in Cintas were worth $3,501,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CTAS. LGT Financial Advisors LLC increased its holdings in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Cintas in the second quarter worth $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas during the first quarter valued at $29,000. Rise Advisors LLC bought a new position in shares of Cintas in the 1st quarter worth about $30,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 0.1 %

Shares of CTAS stock opened at $203.99 on Tuesday. Cintas Co. has a 12 month low of $118.68 and a 12 month high of $209.12. The stock has a 50 day moving average of $207.27 and a 200-day moving average of $182.99. The firm has a market cap of $20.70 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.47 billion. During the same period last year, the business earned $0.83 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Cintas Co. will post 16.64 EPS for the current year.

Cintas Cuts Dividend

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

Cintas declared that its board has approved a share buyback 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on CTAS. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Barclays decreased their price target on Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Morgan Stanley lifted their price objective on shares of Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, UBS Group increased their target price on shares of Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price of $186.30.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction 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 sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.10% of the company’s stock.

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.