TrinityPoint Wealth LLC Has $1 Million Position in Cintas Co. (NASDAQ:CTAS)

TrinityPoint Wealth LLC increased its position in Cintas Co. (NASDAQ:CTAS) by 271.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,859 shares of the business services provider’s stock after acquiring an additional 3,552 shares during the period. TrinityPoint Wealth LLC’s holdings in Cintas were worth $1,000,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC boosted its position in Cintas by 311.1% during the second 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. Financial Management Professionals Inc. boosted its position in Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares during the period. Hollencrest Capital Management boosted its position in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the period. Atwood & Palmer Inc. bought a new stake in Cintas during the second quarter worth approximately $27,000. Finally, Addison Advisors LLC boosted its position in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Cintas stock opened at $216.20 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a fifty day moving average price of $221.79 and a two-hundred day moving average price of $196.06. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. The firm has a market capitalization of $87.19 billion, a P/E ratio of 54.60, a P/E/G ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm 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 company posted $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s dividend payout ratio is currently 39.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTAS shares. Royal Bank of Canada upped their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $199.63.

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.