Ritholtz Wealth Management Buys 20,683 Shares of Cintas Co. (NASDAQ:CTAS)

Ritholtz Wealth Management grew its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 303.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,499 shares of the business services provider's stock after purchasing an additional 20,683 shares during the quarter. Ritholtz Wealth Management's holdings in Cintas were worth $5,661,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTAS. SG Americas Securities LLC raised its holdings in Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider's stock worth $103,194,000 after purchasing an additional 486,500 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider's stock worth $256,326,000 after acquiring an additional 201,955 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Cintas in the 1st quarter worth about $84,646,000. Vanguard Group Inc. increased its stake in shares of Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider's stock worth $6,206,969,000 after acquiring an additional 112,361 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its stake in shares of Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider's stock worth $134,318,000 after acquiring an additional 108,582 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now owns 125,808 shares of the company's stock, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTAS. Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Truist Financial increased their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. Jefferies Financial Group decreased their price target on shares of Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research note on Thursday, September 26th. UBS Group raised 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, Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They set a "neutral" rating and a $167.50 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $199.63.

Cintas Stock Performance

Shares of NASDAQ CTAS traded up $1.92 during trading on Friday, reaching $208.05. 1,347,619 shares of the company traded hands, compared to its average volume of 1,483,670. The firm has a 50 day simple moving average of $212.01 and a 200-day simple moving average of $187.32. 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 stock has a market capitalization of $21.11 billion, a PE ratio of 14.37, a P/E/G ratio of 4.12 and a beta of 1.32. Cintas Co. has a 52-week low of $123.65 and a 52-week high of $211.57.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $2.50 billion for 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 business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.70 EPS. Equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has approved a share 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas's payout ratio is 10.77%.

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.