Brendel Financial Advisors LLC Has $5.33 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Brendel Financial Advisors LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 293.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 25,886 shares of the business services provider’s stock after acquiring an additional 19,309 shares during the period. Cintas makes up 3.0% of Brendel Financial Advisors LLC’s portfolio, making the stock its 3rd largest holding. Brendel Financial Advisors LLC’s holdings in Cintas were worth $5,329,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTAS. LGT Financial Advisors LLC grew its position in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying 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 stake in shares of Cintas in the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. raised 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 purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of a number of analyst reports. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Stifel Nicolaus raised their target price 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. Robert W. Baird upped their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. The Goldman Sachs Group lifted their target price on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.10% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS traded down $1.69 during midday trading on Thursday, reaching $207.45. 433,267 shares of the stock traded hands, compared to its average volume of 1,481,394. The company’s 50 day moving average is $211.32 and its 200 day moving average is $186.85. Cintas Co. has a one year low of $123.65 and a one year high of $211.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.52. The stock has a market capitalization of $21.05 billion, a PE ratio of 14.44, a P/E/G ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $3.70 EPS. On average, equities research analysts anticipate that Cintas Co. will post 4.16 earnings per share for the current year.

Cintas Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is 10.77%.

Cintas declared that its board has approved a share repurchase plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.