Hartline Investment Corp Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Hartline Investment Corp grew its position in Cintas Co. (NASDAQ:CTAS) by 299.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,636 shares of the business services provider’s stock after acquiring an additional 7,974 shares during the quarter. Hartline Investment Corp’s holdings in Cintas were worth $2,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CTAS. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the second quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas during the 1st quarter worth approximately $29,000. Meeder Asset Management Inc. boosted its holdings in Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. Finally, Crewe Advisors LLC grew its position in Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.3 %

Shares of NASDAQ CTAS opened at $224.73 on Wednesday. Cintas Co. has a 1-year low of $132.65 and a 1-year high of $227.35. The business has a fifty day moving average price of $220.30 and a 200 day moving average price of $194.58. The stock has a market capitalization of $90.63 billion, a P/E ratio of 56.75, a price-to-earnings-growth ratio of 4.41 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 released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. 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. Jefferies Financial Group dropped their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $199.63.

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.