Cintas Co. (NASDAQ:CTAS) Shares Acquired by Sanders Morris Harris LLC

Sanders Morris Harris LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 49,692 shares of the business services provider’s stock after purchasing an additional 37,269 shares during the period. Cintas makes up approximately 1.7% of Sanders Morris Harris LLC’s holdings, making the stock its 10th largest position. Sanders Morris Harris LLC’s holdings in Cintas were worth $10,231,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Creative Planning lifted its position in shares of Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in Cintas by 2,063.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock valued at $16,666,000 after acquiring an additional 22,700 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after acquiring an additional 838 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Cintas by 111.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after acquiring an additional 3,878 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its stake in shares of Cintas by 105.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after purchasing an additional 2,580 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CTAS shares. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Barclays raised their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada raised their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Cintas has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 0.6 %

NASDAQ:CTAS opened at $207.90 on Thursday. Cintas Co. has a 12-month low of $123.65 and a 12-month high of $211.57. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $21.09 billion, a P/E ratio of 14.44, a P/E/G ratio of 4.09 and a beta of 1.32. The stock’s fifty day simple moving average is $211.32 and its 200-day simple moving average is $186.85.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company earned $3.70 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. Equities research analysts expect that Cintas Co. will post 4.16 earnings per share for the current year.

Cintas declared that its Board of Directors has authorized a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued 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 yield of 0.75%. Cintas’s dividend payout ratio is presently 10.77%.

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.