NovaPoint Capital LLC Has $272,000 Stock Position in Cintas Co. (NASDAQ:CTAS)

NovaPoint Capital LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,320 shares of the business services provider’s stock after purchasing an additional 990 shares during the period. NovaPoint Capital LLC’s holdings in Cintas were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. LGT Financial Advisors LLC raised its position in 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 purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the second quarter valued at about $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas during the first quarter worth about $29,000. Rise Advisors LLC acquired a new position in shares of Cintas in the first quarter worth approximately $30,000. Finally, Grove Bank & Trust increased its position in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Truist Financial upped 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. Stifel Nicolaus lifted their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic began coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Finally, Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

CTAS opened at $214.02 on Friday. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37. The company has a market cap of $21.72 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 4.12 and a beta of 1.32. The company’s fifty day moving average price is $214.61 and its two-hundred day moving average price is $188.85. 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 posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.70 EPS. On average, analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. Cintas’s payout ratio is 10.77%.

Cintas declared that its Board of Directors has authorized a share buyback program 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction 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 of the company’s stock, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.10% of the stock is currently owned by corporate insiders.

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.