Ensign Peak Advisors Inc Has $42.83 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Ensign Peak Advisors Inc boosted its stake in Cintas Co. (NASDAQ:CTAS) by 4.6% in the second quarter, HoldingsChannel.com reports. The firm owned 61,158 shares of the business services provider’s stock after buying an additional 2,703 shares during the period. Ensign Peak Advisors Inc’s holdings in Cintas were worth $42,827,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. LGT Financial Advisors LLC increased its stake in shares of Cintas by 311.1% in 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. acquired a new stake in Cintas during the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in Cintas during the 1st quarter worth approximately $29,000. Rise Advisors LLC acquired a new position in shares of Cintas in the 1st quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. lifted its position in shares of 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. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $204.16 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The firm’s 50-day simple moving average is $206.76 and its 200 day simple moving average is $182.48. The stock has a market cap of $20.71 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 4.36 and a beta of 1.32. Cintas Co. has a fifty-two week low of $118.68 and a fifty-two week high of $209.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Cintas’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, research analysts anticipate that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s payout ratio is currently 10.77%.

Cintas announced that its board has approved a share 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 a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTAS. Stifel Nicolaus lifted 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. Barclays lowered their price objective on Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $193.75 target price (up from $187.50) on shares of Cintas in a report on Friday, July 19th. Finally, Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $186.30.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.10% of the stock is owned by corporate insiders.

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.