TrinityPoint Wealth LLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

TrinityPoint Wealth LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 271.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,859 shares of the business services provider's stock after buying an additional 3,552 shares during the quarter. TrinityPoint Wealth LLC's holdings in Cintas were worth $1,000,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CTAS. LGT Financial Advisors LLC increased its position in 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 acquiring an additional 28 shares during the period. Financial Management Professionals Inc. grew its stake in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management grew its stake in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock worth $26,000 after purchasing an additional 104 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas in the second quarter valued at $27,000. Finally, Addison Advisors LLC raised its position in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock worth $28,000 after purchasing an additional 114 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 0.9 %

Shares of NASDAQ CTAS traded up $1.98 during midday trading on Tuesday, hitting $218.18. 529,097 shares of the stock traded hands, compared to its average volume of 1,446,910. The company has a market cap of $87.99 billion, a PE ratio of 54.92, a P/E/G ratio of 4.24 and a beta of 1.32. The business has a 50 day moving average price of $221.79 and a two-hundred day moving average price of $196.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a one year low of $136.50 and a one year high of $227.35.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) 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 firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the company earned $3.70 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict that Cintas Co. will post 4.23 EPS for the current year.

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

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio is 39.39%.

Analysts Set New Price Targets

A number of research firms have commented on CTAS. Royal Bank of Canada upped their price target on Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a research report on Thursday, September 26th. Barclays upped their target price on Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, September 27th. The Goldman Sachs Group boosted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They set a "neutral" rating and a $167.50 target price for the company. Two investment 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, Cintas currently has a consensus rating of "Hold" and a consensus price target of $199.63.

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.