14,605 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by Accurate Wealth Management LLC

Accurate Wealth Management LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,605 shares of the business services provider’s stock, valued at approximately $3,077,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. 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 valued at $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas during the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas during the 1st quarter valued at $29,000. Rise Advisors LLC bought a new stake in Cintas during the 1st quarter valued at $30,000. Finally, Grove Bank & Trust raised 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 in the last quarter. 63.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Cintas

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTAS. Truist Financial boosted their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Redburn Atlantic began coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Morgan Stanley boosted 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, UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two research 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. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 0.1 %

Shares of CTAS opened at $214.02 on Friday. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The company has a market capitalization 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 stock’s 50-day moving average price is $214.61 and its 200-day moving average price is $188.85.

Cintas (NASDAQ:CTAS) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.70 EPS. On average, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Cintas Cuts Dividend

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

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.