Willner & Heller LLC Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Willner & Heller LLC raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,591 shares of the business services provider’s stock after purchasing an additional 1,944 shares during the quarter. Willner & Heller LLC’s holdings in Cintas were worth $533,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Cintas in the third quarter worth $215,000. Koshinski Asset Management Inc. acquired a new stake in Cintas during the 3rd quarter worth about $537,000. CHICAGO TRUST Co NA purchased a new position in shares of Cintas during the 3rd quarter valued at about $278,000. Exchange Traded Concepts LLC lifted its holdings in shares of Cintas by 295.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 11,344 shares of the business services provider’s stock valued at $2,336,000 after buying an additional 8,475 shares during the period. Finally, Carnegie Investment Counsel boosted its stake in shares of Cintas by 299.8% in the third quarter. Carnegie Investment Counsel now owns 74,440 shares of the business services provider’s stock worth $15,326,000 after buying an additional 55,822 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction 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 transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CTAS shares. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Stifel Nicolaus increased their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of Cintas stock traded up $1.92 during trading hours on Friday, reaching $208.05. 1,347,619 shares of the company’s stock were exchanged, compared to its average volume of 1,483,670. The business has a fifty day moving average of $212.01 and a two-hundred day moving average of $187.53. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $21.11 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $211.57.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates 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 16.80% and a return on equity of 39.56%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 EPS. As a group, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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

Cintas Cuts Dividend

The business 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 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) 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.