Daymark Wealth Partners LLC Has $3.04 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Daymark Wealth Partners LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 301.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,748 shares of the business services provider’s stock after buying an additional 11,074 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Cintas were worth $3,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of Cintas by 3,302.1% in the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after buying an additional 486,500 shares during the period. Los Angeles Capital Management LLC increased its holdings in Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Cintas in the 1st quarter valued at about $84,646,000. Vanguard Group Inc. raised 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 valued at $6,206,969,000 after purchasing an additional 112,361 shares during the period. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Cintas by 124.9% in the first quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock valued at $134,318,000 after purchasing an additional 108,582 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 1.0 %

CTAS stock opened at $209.14 on Thursday. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. The company has a fifty day moving average price of $210.96 and a two-hundred day moving average price of $186.69. Cintas Co. has a one year low of $123.65 and a one year high of $211.57. 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 announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. Cintas’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.70 EPS. Equities analysts anticipate that Cintas Co. will post 4.16 EPS for the current year.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 yield of 0.75%. Cintas’s payout ratio is currently 10.77%.

Cintas announced that its board has authorized a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Finally, Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $199.63.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction 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 in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.10% of the stock is currently owned by corporate insiders.

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.