Edgestream Partners L.P. Purchases 1,048 Shares of Cintas Co. (NASDAQ:CTAS)

Edgestream Partners L.P. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 74.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,463 shares of the business services provider’s stock after acquiring an additional 1,048 shares during the quarter. Edgestream Partners L.P.’s holdings in Cintas were worth $1,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC lifted its stake in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the second quarter worth about $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas during the 1st quarter worth about $29,000. Rise Advisors LLC bought a new stake in shares of Cintas during the 1st quarter worth about $30,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Cintas by 226.7% during the 2nd 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 last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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 completion of the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.10% of the stock is owned by insiders.

Cintas Stock Up 1.2 %

Shares of CTAS stock opened at $203.74 on Friday. The stock has a market cap of $20.67 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. 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 stock has a fifty day moving average price of $206.29 and a 200 day moving average price of $181.97. Cintas Co. has a one year low of $118.68 and a one year high of $209.12.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share 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 for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business earned $0.83 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Analysts predict that Cintas Co. will post 16.64 earnings per share for the current year.

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

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 given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent analyst reports. UBS Group upped their target price on Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a research report on Friday, July 19th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Morgan Stanley raised their price target on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Finally, Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday. 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 has a consensus 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.