OmniStar Financial Group Inc. Purchases Shares of 3,768 Cintas Co. (NASDAQ:CTAS)

OmniStar Financial Group Inc. acquired a new position in Cintas Co. (NASDAQ:CTAS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,768 shares of the business services provider's stock, valued at approximately $776,000.

Several other large investors also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC raised its stake in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after acquiring an additional 28 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas during the 1st quarter valued at $29,000. Rise Advisors LLC purchased a new position in shares of Cintas during the 1st quarter valued at $30,000. Finally, Meeder Asset Management Inc. boosted its holdings in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock worth $34,000 after buying an additional 34 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of several research analyst reports. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Stifel Nicolaus boosted their price target on Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a report on Friday, July 19th. The Goldman Sachs Group increased their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, September 26th. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They set a "neutral" rating and a $167.50 target price for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $199.63.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this link. Insiders own 15.10% of the company's stock.

Cintas Stock Up 0.1 %

Shares of CTAS traded up $0.20 during midday trading on Friday, reaching $214.02. 1,247,788 shares of the stock were exchanged, compared to its average volume of 1,475,704. 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 moving average is $214.61 and its two-hundred day moving average is $188.85. The company has a market capitalization of $21.72 billion, a P/E ratio of 14.78, a PEG 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 $215.37.

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 the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the business earned $3.70 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. Cintas's dividend payout ratio is currently 10.77%.

Cintas declared that its Board of Directors has authorized a stock 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

About Cintas

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.