Natixis Advisors LLC Sells 20,943 Shares of Cintas Co. (NASDAQ:CTAS)

Natixis Advisors LLC trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 17.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,464 shares of the business services provider’s stock after selling 20,943 shares during the period. Natixis Advisors LLC owned approximately 0.10% of Cintas worth $68,950,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vantage Financial Partners LLC bought a new position in shares of Cintas in the 4th quarter worth $1,029,000. Savant Capital LLC lifted its holdings in shares of Cintas by 17.3% in the 4th quarter. Savant Capital LLC now owns 698 shares of the business services provider’s stock worth $421,000 after purchasing an additional 103 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Cintas by 2.3% in the 4th quarter. Natixis Advisors L.P. now owns 35,607 shares of the business services provider’s stock worth $21,459,000 after purchasing an additional 798 shares in the last quarter. Aveo Capital Partners LLC lifted its holdings in shares of Cintas by 4.0% in the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after purchasing an additional 44 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Cintas by 14.5% in the 4th quarter. Merit Financial Group LLC now owns 1,378 shares of the business services provider’s stock worth $830,000 after purchasing an additional 175 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Up 0.7 %

Shares of NASDAQ CTAS opened at $805.12 on Monday. Cintas Co. has a 12 month low of $474.74 and a 12 month high of $807.98. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $81.69 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 4.28 and a beta of 1.31. The business has a 50-day moving average of $747.43 and a 200-day moving average of $693.71.

Shares of Cintas are scheduled to split before the market opens on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.19. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.33 earnings per share. Sell-side analysts expect that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

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

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be paid a $1.56 dividend. The ex-dividend date is Thursday, August 15th. This represents a $6.24 annualized dividend and a yield of 0.78%. This is a positive change from Cintas’s previous quarterly dividend of $1.35. Cintas’s dividend payout ratio is currently 43.09%.

Insiders Place Their Bets

In other Cintas news, Director Gerald S. Adolph sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the sale, the director now owns 31,452 shares of the company’s stock, valued at $24,083,425.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTAS. Morgan Stanley raised their price objective on Cintas from $575.00 to $625.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Robert W. Baird restated a “neutral” rating and set a $775.00 price objective (up from $750.00) on shares of Cintas in a research note on Friday, July 19th. Wells Fargo & Company upgraded Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $670.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued 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 a consensus target price of $742.36.

About Cintas

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.