Cintas Co. (NASDAQ:CTAS) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,718 shares of the business services provider’s stock after selling 114 shares during the quarter. Profund Advisors LLC’s holdings in Cintas were worth $6,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Cintas by 1.1% in the fourth 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 last quarter. Bank of New York Mellon Corp increased its stake in Cintas by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 806,369 shares of the business services provider’s stock worth $554,000,000 after acquiring an additional 27,470 shares during the last quarter. Nordea Investment Management AB increased its stake in Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after acquiring an additional 37,727 shares during the last quarter. Acadian Asset Management LLC increased its stake in Cintas by 21.1% during the second quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after acquiring an additional 67,440 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after acquiring an additional 201,955 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the company’s 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 sale, 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 Securities & Exchange Commission, which is available at this link. 15.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CTAS shares. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $193.75 target price (up previously from $187.50) on shares of Cintas in a research report on Friday, July 19th. Finally, StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $186.30.

Cintas Trading Up 0.2 %

Shares of CTAS opened at $204.16 on Friday. The company has a market capitalization of $20.71 billion, a P/E ratio of 14.10, a P/E/G ratio of 4.36 and a beta of 1.32. 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 quick ratio of 1.52 and a current ratio of 1.74. The stock has a 50-day moving average price of $206.76 and a 200 day moving average price of $182.48.

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

Cintas announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Cintas Cuts Dividend

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

Cintas 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.