Mn Services Vermogensbeheer B.V. Trims Stock Position in Cintas Co. (NASDAQ:CTAS)

Mn Services Vermogensbeheer B.V. trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 36,400 shares of the business services provider’s stock after selling 400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cintas were worth $25,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. McAdam LLC lifted its holdings in shares of Cintas by 5.3% in the 2nd quarter. McAdam LLC now owns 1,086 shares of the business services provider’s stock worth $760,000 after acquiring an additional 55 shares during the last quarter. Argent Capital Management LLC raised its position in Cintas by 2.1% in the second quarter. Argent Capital Management LLC now owns 7,419 shares of the business services provider’s stock valued at $5,195,000 after purchasing an additional 155 shares during the period. LRI Investments LLC lifted its stake in Cintas by 4,450.0% during the second quarter. LRI Investments LLC now owns 182 shares of the business services provider’s stock worth $127,000 after purchasing an additional 178 shares in the last quarter. EWA LLC purchased a new position in shares of Cintas during the second quarter worth $202,000. Finally, Traynor Capital Management Inc. lifted its stake in Cintas by 25.9% during the 2nd quarter. Traynor Capital Management Inc. now owns 374 shares of the business services provider’s stock worth $262,000 after acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insiders Place Their Bets

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total transaction of $842,292.00. Following the sale, the director now directly owns 31,452 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent research reports. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $670.00 price target on the stock. Robert W. Baird restated a “neutral” rating and set a $775.00 price target (up previously from $750.00) on shares of Cintas in a report on Friday, July 19th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial increased their target price on Cintas from $775.00 to $850.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, UBS Group increased their price target on shares of Cintas from $790.00 to $874.00 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus price target of $742.36.

Cintas Price Performance

Shares of CTAS traded up $3.86 during mid-day trading on Friday, hitting $788.50. The company’s stock had a trading volume of 257,244 shares, compared to its average volume of 372,748. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1-year low of $474.74 and a 1-year high of $791.65. The firm has a market capitalization of $80.00 billion, a P/E ratio of 54.45, a P/E/G ratio of 4.06 and a beta of 1.31. The firm has a 50-day simple moving average of $738.41 and a 200 day simple moving average of $686.71.

Shares of Cintas are going to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be payable to shareholders after the market closes on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.19. The business had revenue of $2.47 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.33 EPS. Analysts predict that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas announced that its board has approved a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $1.56 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $1.35. This represents a $6.24 annualized dividend and a dividend yield of 0.79%. Cintas’s dividend payout ratio is currently 43.09%.

Cintas Company 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.