Cintas Co. (NASDAQ:CTAS) Shares Purchased by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. raised its stake in Cintas Co. (NASDAQ:CTAS) by 297.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,204 shares of the business services provider’s stock after buying an additional 8,383 shares during the period. Cintas makes up approximately 0.8% of Heritage Wealth Management Inc.’s holdings, making the stock its 28th largest holding. Heritage Wealth Management Inc.’s holdings in Cintas were worth $2,307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Palmer Knight Co increased its stake in shares of Cintas by 296.5% during the 3rd quarter. Palmer Knight Co now owns 45,780 shares of the business services provider’s stock worth $9,425,000 after purchasing an additional 34,235 shares in the last quarter. Reik & CO. LLC lifted its stake in shares of Cintas by 296.1% during the 3rd quarter. Reik & CO. LLC now owns 245,873 shares of the business services provider’s stock worth $50,620,000 after purchasing an additional 183,796 shares during the period. Summit Global Investments boosted its stake in Cintas by 117.4% in the 3rd quarter. Summit Global Investments now owns 1,085 shares of the business services provider’s stock worth $224,000 after buying an additional 586 shares during the last quarter. Bensler LLC lifted its holdings in shares of Cintas by 314.0% during the 3rd quarter. Bensler LLC now owns 59,403 shares of the business services provider’s stock worth $12,230,000 after acquiring an additional 45,054 shares during the period. Finally, Winthrop Advisory Group LLC grew its position in Cintas by 289.1% during the third quarter. Winthrop Advisory Group LLC now owns 1,572 shares of the business services provider’s stock valued at $324,000 after acquiring an additional 1,168 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on CTAS shares. Robert W. Baird lifted their price target 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. The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays boosted their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Morgan Stanley upped their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Up 2.0 %

Cintas stock traded up $4.33 during mid-day trading on Friday, hitting $223.85. The company’s stock had a trading volume of 29,898 shares, compared to its average volume of 1,446,580. The firm’s 50 day moving average is $218.46 and its 200 day moving average is $192.79. 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 company has a market cap of $90.28 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a 52-week low of $131.24 and a 52-week high of $223.86.

Cintas (NASDAQ:CTAS) last issued 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 firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its board has approved a share repurchase program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 0.70%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.