Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Reduces Holdings in Cintas Co. (NASDAQ:CTAS)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group reduced its position in Cintas Co. (NASDAQ:CTAS) by 6.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,969 shares of the business services provider’s stock after selling 146 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Cintas were worth $1,379,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC increased 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 worth $26,000 after buying an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the second quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas during the first quarter worth about $29,000. Rise Advisors LLC purchased a new position in shares of Cintas during the first quarter worth about $30,000. Finally, Meeder Asset Management Inc. increased its position in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 1.0 %

Cintas stock opened at $203.86 on Wednesday. Cintas Co. has a fifty-two week low of $119.69 and a fifty-two week high of $211.57. 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 stock’s fifty day moving average is $209.44 and its two-hundred day moving average is $185.04. The firm has a market capitalization of $20.68 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its earnings results 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 firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $3.70 EPS. Analysts predict that Cintas Co. will post 4.16 EPS for the current fiscal 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas announced that its board has approved a stock buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Robert W. Baird boosted their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. The Goldman Sachs Group increased their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $199.63.

Insiders Place Their Bets

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas 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 sale, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.10% of the stock is currently owned by company insiders.

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.