Cintas Co. (NASDAQ:CTAS) Shares Bought by Ullmann Wealth Partners Group LLC

Ullmann Wealth Partners Group LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 281.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,887 shares of the business services provider’s stock after purchasing an additional 6,560 shares during the period. Ullmann Wealth Partners Group LLC’s holdings in Cintas were worth $1,830,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CTAS. LGT Financial Advisors LLC lifted its position 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 valued at $26,000 after buying an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Cintas during the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new position in shares of Cintas during the 1st quarter valued at approximately $29,000. Rise Advisors LLC purchased a new position in shares of Cintas during the 1st quarter valued at approximately $30,000. Finally, Grove Bank & Trust lifted its position in shares of 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 buying an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.4 %

Shares of NASDAQ:CTAS traded down $0.80 during midday trading on Tuesday, reaching $210.70. 1,317,591 shares of the company’s stock were exchanged, compared to its average volume of 1,480,127. The firm’s 50 day simple moving average is $212.54 and its two-hundred day simple moving average is $187.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock 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. Cintas Co. has a fifty-two week low of $123.65 and a fifty-two week high of $213.05.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business posted $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, August 15th. Cintas’s payout ratio is presently 10.77%.

Insider Activity

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 15.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTAS. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Finally, Wells Fargo & Company increased their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $199.63.

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.