Gleason Group Inc. Purchases 7,443 Shares of Cintas Co. (NASDAQ:CTAS)

Gleason Group Inc. increased its position in Cintas Co. (NASDAQ:CTAS) by 300.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,917 shares of the business services provider’s stock after purchasing an additional 7,443 shares during the quarter. Cintas makes up 0.4% of Gleason Group Inc.’s portfolio, making the stock its 23rd biggest position. Gleason Group Inc.’s holdings in Cintas were worth $2,042,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC raised 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 last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas in the 1st quarter valued at $29,000. Rise Advisors LLC bought a new position in shares of Cintas in the 1st quarter worth $30,000. Finally, Grove Bank & Trust grew its stake in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the period. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTAS has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Truist Financial increased their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Robert W. Baird increased their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Up 0.3 %

NASDAQ:CTAS opened at $211.37 on Wednesday. The stock has a 50-day simple moving average of $213.03 and a 200 day simple moving average of $188.19. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $213.05. The company has a market cap of $21.45 billion, a PE ratio of 14.55, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last issued its quarterly 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. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $3.70 EPS. On average, sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 annualized dividend and a yield of 0.74%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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.