Johnson Investment Counsel Inc. Sells 47 Shares of Cintas Co. (NASDAQ:CTAS)

Johnson Investment Counsel Inc. lessened its stake in Cintas Co. (NASDAQ:CTAS) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 28,517 shares of the business services provider’s stock after selling 47 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Cintas were worth $19,969,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CTAS. Vantage Financial Partners LLC acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $1,029,000. Aveo Capital Partners LLC increased its stake in shares of Cintas by 4.0% in the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock valued at $689,000 after buying an additional 44 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in shares of Cintas by 100.4% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 467 shares of the business services provider’s stock worth $281,000 after acquiring an additional 234 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Cintas by 2.4% during the fourth quarter. QRG Capital Management Inc. now owns 2,182 shares of the business services provider’s stock valued at $1,315,000 after acquiring an additional 52 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Cintas by 16.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,966 shares of the business services provider’s stock valued at $1,788,000 after acquiring an additional 422 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 15.10% of the stock is currently owned by corporate insiders.

Cintas Stock Up 0.4 %

Shares of CTAS stock opened at $819.83 on Thursday. Cintas Co. has a 12-month low of $474.74 and a 12-month high of $820.96. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $203.08 and a 200-day moving average of $180.16. The company has a market capitalization of $83.18 billion, a price-to-earnings ratio of 56.62, a P/E/G ratio of 4.16 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. As a group, equities research analysts predict that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas announced that its board has initiated a stock repurchase program 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 buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.19%. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Barclays raised their price objective on shares of Cintas from $175.00 to $212.50 and gave the company an “overweight” rating in a research note on Friday, July 19th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial lifted their price objective on Cintas from $193.75 to $212.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, UBS Group upped their price target on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.59.

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.