Octavia Wealth Advisors LLC Invests $307,000 in Cintas Co. (NASDAQ:CTAS)

Octavia Wealth Advisors LLC purchased a new stake in Cintas Co. (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 439 shares of the business services provider’s stock, valued at approximately $307,000.

Several other large investors have also made changes to their positions in CTAS. Atwood & Palmer Inc. bought a new stake in Cintas in the second quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas in the first quarter worth $29,000. Rise Advisors LLC acquired a new position in Cintas during the first quarter worth $30,000. Webster Bank N. A. bought a new position in Cintas during the first quarter valued at about $38,000. Finally, Crewe Advisors LLC lifted its position 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 worth $39,000 after buying an additional 32 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.7 %

Shares of CTAS stock opened at $799.40 on Wednesday. The firm has a fifty day moving average of $751.00 and a 200-day moving average of $696.30. The stock has a market cap of $81.11 billion, a price-to-earnings ratio of 55.21, a P/E/G ratio of 4.28 and a beta of 1.31. Cintas Co. has a 52-week low of $474.74 and a 52-week high of $812.01. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74.

Cintas’s stock is scheduled to split on 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 earnings results on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, beating the consensus estimate of $3.80 by $0.19. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.33 EPS. On average, equities research analysts forecast that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $1.56 per share. This is a positive change from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date was Thursday, August 15th. This represents a $6.24 annualized dividend and a dividend yield of 0.78%. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

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

Analyst Ratings Changes

CTAS has been the subject of several analyst reports. UBS Group boosted their target price on Cintas from $790.00 to $874.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Citigroup downgraded shares of Cintas from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $530.00 to $570.00 in a report on Friday, May 24th. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $670.00 price target for the company. Finally, Barclays boosted their price objective on Cintas from $700.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $742.36.

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total transaction of $842,292.00. Following the sale, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.10% of the stock is owned by company insiders.

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.