AE Wealth Management LLC Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

AE Wealth Management LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 32.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,223 shares of the business services provider’s stock after buying an additional 781 shares during the quarter. AE Wealth Management LLC’s holdings in Cintas were worth $2,257,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CTAS. LGT Financial Advisors LLC increased its holdings 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 acquiring an additional 28 shares during the period. Atwood & Palmer Inc. bought a new position in Cintas in the second quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter valued at about $29,000. Rise Advisors LLC bought a new stake in shares of Cintas in the 1st quarter valued at about $30,000. Finally, Meeder Asset Management Inc. grew its position 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 worth $34,000 after buying an additional 34 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.10% of the company’s stock.

Cintas Stock Down 0.1 %

NASDAQ:CTAS opened at $203.99 on Tuesday. 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 company’s fifty day moving average price is $207.27 and its 200-day moving average price is $182.99. Cintas Co. has a 1-year low of $118.68 and a 1-year high of $209.12. The firm has a market capitalization of $20.70 billion, a P/E ratio of 14.09, a PEG ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.05. The company had revenue of $2.47 billion for 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%. During the same period last year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Cintas Co. will post 16.64 EPS for the current year.

Cintas announced that its board has initiated a stock repurchase program 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 purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Cintas Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTAS. 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. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Morgan Stanley boosted their target price on Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, UBS Group boosted their price target on Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $186.30.

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.