Lockerman Financial Group Inc. Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Lockerman Financial Group Inc. increased its position in Cintas Co. (NASDAQ:CTAS) by 291.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,698 shares of the business services provider’s stock after purchasing an additional 1,264 shares during the period. Lockerman Financial Group Inc.’s holdings in Cintas were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC raised its holdings in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the second quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas in the first quarter worth $29,000. Rise Advisors LLC purchased a new stake in Cintas during the first quarter valued at $30,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Down 0.4 %

Shares of NASDAQ CTAS traded down $0.80 during trading hours on Tuesday, reaching $210.70. The stock had a trading volume of 1,317,586 shares, compared to its average volume of 1,480,127. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $213.05. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 4.12 and a beta of 1.32. The business’s fifty day moving average price is $212.54 and its two-hundred day moving average price is $187.92. 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 issued its earnings results 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 return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business earned $3.70 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 10.77%.

Cintas declared that its board has approved a stock buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTAS. Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Morgan Stanley raised their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird boosted 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $199.63.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.10% of the company’s stock.

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.