Trueblood Wealth Management LLC Has $468,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Trueblood Wealth Management LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 22.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 669 shares of the business services provider’s stock after purchasing an additional 124 shares during the period. Trueblood Wealth Management LLC’s holdings in Cintas were worth $468,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. LGT Financial Advisors LLC boosted its stake in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. bought a new stake in Cintas during the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas during the 1st quarter valued at approximately $29,000. Rise Advisors LLC bought a new stake in Cintas during the 1st quarter valued at approximately $30,000. Finally, Webster Bank N. A. acquired a new position in Cintas in the 1st quarter valued at approximately $38,000. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS stock opened at $819.83 on Thursday. The stock’s fifty day moving average is $203.08 and its 200-day moving average is $180.16. The stock has a market capitalization of $83.18 billion, a PE ratio of 56.62, a PEG ratio of 4.16 and a beta of 1.32. Cintas Co. has a 52 week low of $474.74 and a 52 week high of $820.96. 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 (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the business earned $0.83 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas Cuts Dividend

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

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 shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $193.75 price target (up previously from $187.50) on shares of Cintas in a report on Friday, July 19th. Morgan Stanley upped their price target on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a report on Friday, July 19th. Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company raised Cintas to a “strong sell” rating in a report on Tuesday, August 13th. Finally, Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $185.59.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now 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 SEC, which can be accessed through this link. 15.10% of the stock is currently owned by 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.