Cintas Co. (NASDAQ:CTAS) Position Boosted by Candriam S.C.A.

Candriam S.C.A. increased its holdings in Cintas Co. (NASDAQ:CTAS) by 51.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,847 shares of the business services provider’s stock after purchasing an additional 29,293 shares during the quarter. Candriam S.C.A. owned 0.09% of Cintas worth $60,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the second quarter worth $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter valued at $29,000. Rise Advisors LLC acquired a new position in shares of Cintas in the 1st quarter valued at $30,000. Finally, Webster Bank N. A. purchased a new position in Cintas in the 1st quarter worth about $38,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Down 2.1 %

Shares of NASDAQ:CTAS opened at $781.90 on Friday. 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 stock has a market capitalization of $79.33 billion, a PE ratio of 54.00, a P/E/G ratio of 4.28 and a beta of 1.31. Cintas Co. has a 1 year low of $474.74 and a 1 year high of $812.01. The firm has a fifty day moving average price of $756.32 and a 200 day moving average price of $698.93.

Cintas shares are scheduled to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. The business 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%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $3.33 EPS. Analysts expect that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $1.56 per share. This is an increase from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio is currently 43.09%.

Cintas announced that its board has initiated 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTAS. Wells Fargo & Company raised shares of Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Truist Financial increased their target price on Cintas from $775.00 to $850.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, UBS Group lifted their price target on Cintas from $790.00 to $874.00 and gave the company a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $742.36.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the completion of the transaction, the director now owns 31,452 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.10% of the stock is currently owned by company insiders.

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.