Nicholson Wealth Management Group LLC Invests $732,000 in Cintas Co. (NASDAQ:CTAS)

Nicholson Wealth Management Group LLC acquired a new stake in Cintas Co. (NASDAQ:CTAS) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,555 shares of the business services provider’s stock, valued at approximately $732,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Creative Planning boosted its position in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after buying an additional 4,957 shares during the period. Western Financial Corp CA lifted its stake in shares of Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after acquiring an additional 10,177 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Cintas by 2,063.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock valued at $16,666,000 after acquiring an additional 22,700 shares during the period. Searle & CO. grew its position in Cintas by 300.0% during the 3rd quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock worth $1,482,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Cintas by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after acquiring an additional 838 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” 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 report on Tuesday, September 17th. Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Stifel Nicolaus upped their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, 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. Two 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, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 0.3 %

Shares of Cintas stock opened at $209.13 on Friday. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $215.37. 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 company has a 50-day moving average of $215.86 and a 200 day moving average of $189.89. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32.

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

Cintas announced that its board has approved a share repurchase 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.