HM Payson & Co. Acquires 2,018 Shares of Cintas Co. (NASDAQ:CTAS)

HM Payson & Co. lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 195.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,048 shares of the business services provider’s stock after buying an additional 2,018 shares during the period. HM Payson & Co.’s holdings in Cintas were worth $628,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CTAS. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after buying an additional 1,222,500 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after buying an additional 486,500 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Cintas by 300.0% during the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after buying an additional 383,124 shares in the last quarter. Raymond James & Associates increased its holdings in Cintas by 305.4% in the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after purchasing an additional 364,659 shares during the period. Finally, New York State Teachers Retirement System raised its position in Cintas by 289.6% during the 3rd quarter. New York State Teachers Retirement System now owns 317,255 shares of the business services provider’s stock worth $65,316,000 after purchasing an additional 235,825 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 1.0 %

Shares of NASDAQ:CTAS opened at $205.81 on Friday. The business’s 50 day simple moving average is $217.58 and its two-hundred day simple moving average is $191.39. The firm has a market cap of $83.00 billion, a P/E ratio of 51.97, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 52-week low of $125.62 and a 52-week high of $215.37.

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

Cintas declared that its board has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s payout ratio is currently 39.39%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTAS. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus lifted their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price 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.