ORG Wealth Partners LLC Purchases Shares of 3,575 Cintas Co. (NASDAQ:CTAS)

ORG Wealth Partners LLC purchased a new position in Cintas Co. (NASDAQ:CTAS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,575 shares of the business services provider's stock, valued at approximately $736,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its position in Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider's stock worth $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider's stock valued at $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank lifted its stake in shares of Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider's stock valued at $53,000 after purchasing an additional 15 shares during the period. Drive Wealth Management LLC grew its stake in shares of Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock worth $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock valued at $954,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several research reports. Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They set a "neutral" rating and a $167.50 price objective on the stock. Barclays raised their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Stifel Nicolaus boosted their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research note on Friday, July 19th. Finally, Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Cintas presently has a consensus rating of "Hold" and a consensus target price of $199.63.

Cintas Stock Up 1.7 %

Shares of CTAS stock traded up $3.45 on Monday, hitting $211.50. The company's stock had a trading volume of 944,790 shares, compared to its average volume of 1,480,948. 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 firm's fifty day moving average price is $212.01 and its 200-day moving average price is $187.64. Cintas Co. has a fifty-two week low of $123.65 and a fifty-two week high of $212.22. The stock has a market capitalization of $21.46 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 4.12 and a beta of 1.32.

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 for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business's revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $3.70 EPS. Research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas's dividend payout ratio (DPR) is currently 10.77%.

Cintas declared that its board has approved a stock repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in 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 generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the business's stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the transaction, the director now owns 125,808 shares of the company's stock, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.10% of the company's stock.

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.