Cintas Co. (NASDAQ:CTAS) Shares Bought by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC grew its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 271.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,262 shares of the business services provider's stock after acquiring an additional 2,383 shares during the period. Terra Nova Asset Management LLC's holdings in Cintas were worth $672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. raised its position in Cintas by 12.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider's stock valued at $313,000 after acquiring an additional 58 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Cintas during the 4th quarter valued at approximately $343,000. Nomura Holdings Inc. lifted its stake in shares of Cintas by 26.4% in the 4th quarter. Nomura Holdings Inc. now owns 1,734 shares of the business services provider's stock valued at $1,045,000 after purchasing an additional 362 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Cintas during the fourth quarter worth $157,000. Finally, CWM LLC grew its position in Cintas by 130.0% during the first quarter. CWM LLC now owns 5,097 shares of the business services provider's stock valued at $3,501,000 after buying an additional 2,881 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Price Performance

CTAS traded up $2.23 during trading on Wednesday, reaching $212.93. The company's stock had a trading volume of 1,140,648 shares, compared to its average volume of 1,478,433. The firm has a fifty day simple moving average of $213.58 and a two-hundred day simple moving average of $188.37. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 4.12 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1 year low of $123.65 and a 1 year high of $213.40.

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

Cintas announced that its board has authorized a stock buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. Cintas's dividend payout ratio (DPR) is 10.77%.

Insider Transactions at Cintas

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CTAS. Royal Bank of Canada increased their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 26th. Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research report on Friday, July 19th. Robert W. Baird boosted their price objective on Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Baird R W lowered Cintas from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 19th. Finally, Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price target for the company. Two equities research 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.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.