Valley Wealth Managers Inc. Takes $56,000 Position in Cintas Co. (NASDAQ:CTAS)

Valley Wealth Managers Inc. purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 80 shares of the business services provider’s stock, valued at approximately $56,000.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Vanguard Group Inc. grew its stake in shares of Cintas by 1.1% in the 4th 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. Norges Bank purchased a new position in Cintas in the 4th quarter valued at $872,895,000. Bank of New York Mellon Corp increased its stake in Cintas by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 806,369 shares of the business services provider’s stock valued at $554,000,000 after buying an additional 27,470 shares during the period. Brown Advisory Inc. raised its position in Cintas by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 726,515 shares of the business services provider’s stock worth $437,842,000 after buying an additional 15,444 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of 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 acquiring an additional 37,727 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $207.77 on Friday. 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’s 50 day moving average price is $204.28 and its 200 day moving average price is $180.68. The firm has a market cap of $20.94 billion, a P/E ratio of 14.35, a PEG ratio of 4.36 and a beta of 1.32. Cintas Co. has a 1 year low of $118.68 and a 1 year high of $209.12.

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

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

Cintas Cuts Dividend

The firm 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. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

Insiders Place Their Bets

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CTAS shares. Morgan Stanley increased their price target on shares of Cintas from $143.75 to $156.25 and gave the stock an “equal weight” rating in a report on Friday, July 19th. UBS Group raised their price target on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a report on Friday, July 19th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Finally, Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and upped their price target for the stock from $132.50 to $142.50 in a research note on Friday, May 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $185.41.

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.