Newbridge Financial Services Group Inc. Has $729,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Newbridge Financial Services Group Inc. lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 56.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,041 shares of the business services provider’s stock after buying an additional 377 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Cintas were worth $729,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after acquiring an additional 112,361 shares during the last quarter. Legal & General Group Plc lifted its stake in Cintas by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after purchasing an additional 3,471 shares during the last quarter. Nordea Investment Management AB boosted its position in Cintas by 6.3% in the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after buying an additional 37,727 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Cintas by 21.1% in the 2nd quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock valued at $271,323,000 after acquiring an additional 67,440 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of 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 valued at $256,326,000 after acquiring an additional 201,955 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTAS. Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Stifel Nicolaus lifted their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

NASDAQ CTAS opened at $203.86 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $209.44 and a 200 day simple moving average of $185.04. Cintas Co. has a 12-month low of $119.69 and a 12-month high of $211.57. The company has a market cap of $20.68 billion, a P/E ratio of 14.08, a PEG ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted 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 company 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%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.70 earnings per share. Sell-side analysts predict that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

Cintas declared that its board has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

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.