Empowered Funds LLC Buys 15,010 Shares of Cintas Co. (NASDAQ:CTAS)

Empowered Funds LLC boosted its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 373.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,028 shares of the business services provider's stock after purchasing an additional 15,010 shares during the period. Empowered Funds LLC's holdings in Cintas were worth $3,917,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CTAS. Edgestream Partners L.P. bought a new position in Cintas in the 1st quarter valued at approximately $972,000. Covestor Ltd lifted its holdings in shares of Cintas by 40.3% during the first quarter. Covestor Ltd now owns 216 shares of the business services provider's stock worth $149,000 after purchasing an additional 62 shares during the period. UniSuper Management Pty Ltd grew its stake in shares of Cintas by 230.5% in the first quarter. UniSuper Management Pty Ltd now owns 2,710 shares of the business services provider's stock worth $1,862,000 after purchasing an additional 1,890 shares during the last quarter. Bessemer Group Inc. increased its holdings in Cintas by 88.8% in the first quarter. Bessemer Group Inc. now owns 3,864 shares of the business services provider's stock valued at $2,656,000 after purchasing an additional 1,817 shares during the period. Finally, Lake Street Advisors Group LLC raised its position in Cintas by 41.1% during the 1st quarter. Lake Street Advisors Group LLC now owns 515 shares of the business services provider's stock worth $354,000 after purchasing an additional 150 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Up 0.8 %

NASDAQ CTAS traded up $1.77 during mid-day trading on Tuesday, hitting $217.97. The company's stock had a trading volume of 1,231,473 shares, compared to its average volume of 1,450,172. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company's 50 day simple moving average is $222.07 and its 200 day simple moving average is $196.41. Cintas Co. has a twelve month low of $136.50 and a twelve month high of $227.35. The firm has a market capitalization of $87.91 billion, a price-to-earnings ratio of 55.04, a PEG ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.70 earnings per share. Analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has approved a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas's dividend payout ratio (DPR) is currently 39.39%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, Robert W. Baird lifted their target price 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 assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $199.63.

Cintas 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.