Cintas Co. (NASDAQ:CTAS) Shares Acquired by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 292.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,000 shares of the business services provider’s stock after purchasing an additional 106,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Cintas were worth $29,441,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC lifted its position in 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 during the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas during the second quarter worth about $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas during the first quarter worth about $29,000. Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the period. Finally, Crewe Advisors LLC grew its holdings in shares of Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 32 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Robert W. Baird lifted their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report 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 has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of CTAS traded up $0.52 during mid-day trading on Monday, reaching $206.14. 167,032 shares of the company’s stock were exchanged, compared to its average volume of 1,448,429. The business’s fifty day simple moving average is $217.75 and its 200-day simple moving average is $192.01. Cintas Co. has a 52-week low of $128.92 and a 52-week high of $215.37. The stock has a market capitalization of $83.14 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last announced its earnings results 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the company earned $3.70 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

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

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.