Cintas Co. (NASDAQ:CTAS) Shares Purchased by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,719 shares of the business services provider’s stock after acquiring an additional 1,290 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Cintas were worth $354,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norden Group LLC raised its holdings in Cintas by 120.9% in the first quarter. Norden Group LLC now owns 824 shares of the business services provider’s stock valued at $566,000 after buying an additional 451 shares during the period. TFB Advisors LLC raised its stake in shares of Cintas by 31.9% in the 1st quarter. TFB Advisors LLC now owns 504 shares of the business services provider’s stock valued at $334,000 after acquiring an additional 122 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Cintas by 9.9% during the 1st quarter. Richardson Financial Services Inc. now owns 1,890 shares of the business services provider’s stock valued at $1,298,000 after acquiring an additional 170 shares in the last quarter. Team Hewins LLC purchased a new stake in Cintas during the 1st quarter worth $205,000. Finally, Financial Council LLC acquired a new stake in Cintas in the 1st quarter valued at $225,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $207.56 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $83.71 billion, a price-to-earnings ratio of 52.41, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32. Cintas Co. has a twelve month low of $128.92 and a twelve month high of $215.37. The business has a 50 day simple moving average of $217.93 and a 200-day simple moving average of $192.31.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas’s dividend payout ratio is currently 39.39%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CTAS shares. Morgan Stanley boosted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. 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. Stifel Nicolaus boosted their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, Barclays raised their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and an average price target 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.