CWA Asset Management Group LLC Acquires New Position in Cintas Co. (NASDAQ:CTAS)

CWA Asset Management Group LLC bought a new position in Cintas Co. (NASDAQ:CTAS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,893 shares of the business services provider’s stock, valued at approximately $2,860,000.

A number of other institutional investors also recently modified their holdings of CTAS. LGT Financial Advisors LLC grew its stake in shares of Cintas by 311.1% in 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. acquired a new stake in Cintas in the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas in the first quarter worth approximately $29,000. Meeder Asset Management Inc. increased its stake in shares of Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC raised its holdings in shares of Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CTAS shares. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report 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 report on Thursday, September 26th. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Robert W. Baird boosted their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 2.8 %

Shares of CTAS opened at $225.72 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a 50-day simple moving average of $219.35 and a 200-day simple moving average of $193.39. Cintas Co. has a 52 week low of $131.24 and a 52 week high of $227.24. The firm has a market capitalization of $91.03 billion, a P/E ratio of 57.00, a P/E/G ratio of 4.27 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the firm posted $3.70 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas’s dividend payout ratio is currently 39.39%.

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

Cintas Company 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.