Cintas Co. (NASDAQ:CTAS) Shares Purchased by Hartline Investment Corp

Hartline Investment Corp lifted its stake in Cintas Co. (NASDAQ:CTAS) by 299.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,636 shares of the business services provider’s stock after acquiring an additional 7,974 shares during the period. Hartline Investment Corp’s holdings in Cintas were worth $2,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CTAS. LGT Financial Advisors LLC lifted its stake in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the period. Financial Management Professionals Inc. increased its position in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management raised its stake in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas during the 2nd quarter worth about $27,000. Finally, Addison Advisors LLC grew its stake in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group raised their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of CTAS stock opened at $224.73 on Wednesday. The company has a market capitalization of $90.63 billion, a P/E ratio of 56.75, a P/E/G ratio of 4.41 and a beta of 1.32. Cintas Co. has a 12-month low of $132.65 and a 12-month high of $227.35. The business’s 50 day moving average is $220.30 and its two-hundred day moving average is $194.58. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The firm 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 business’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.70 EPS. Analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

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.