Nvwm LLC Purchases 145 Shares of Cintas Co. (NASDAQ:CTAS)

Nvwm LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 337.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188 shares of the business services provider’s stock after acquiring an additional 145 shares during the quarter. Nvwm LLC’s holdings in Cintas were worth $39,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Cintas by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,152 shares of the business services provider’s stock worth $17,280,000 after buying an additional 225 shares in the last quarter. Norden Group LLC increased its stake in shares of Cintas by 120.9% in the first quarter. Norden Group LLC now owns 824 shares of the business services provider’s stock worth $566,000 after purchasing an additional 451 shares in the last quarter. Lincoln National Corp raised its position in shares of Cintas by 1.2% during the 1st quarter. Lincoln National Corp now owns 3,427 shares of the business services provider’s stock valued at $2,354,000 after purchasing an additional 41 shares during the period. Graypoint LLC boosted its holdings in Cintas by 8.3% in the 1st quarter. Graypoint LLC now owns 470 shares of the business services provider’s stock worth $323,000 after buying an additional 36 shares during the period. Finally, FORA Capital LLC bought a new position in Cintas in the 1st quarter worth $3,013,000. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTAS. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. The Goldman Sachs Group boosted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective for the company. Royal Bank of Canada boosted 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. Finally, Robert W. Baird increased their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 0.1 %

Shares of Cintas stock opened at $205.62 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52-week low of $126.74 and a 52-week high of $215.37. The company has a market capitalization of $82.93 billion, a P/E ratio of 51.92, a P/E/G ratio of 4.05 and a beta of 1.32. The company has a 50 day moving average of $217.75 and a 200 day moving average of $192.01.

Cintas (NASDAQ:CTAS) last released 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 return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company earned $3.70 earnings per share. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

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

Cintas declared that its Board of Directors has authorized a stock repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is 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.