Aprio Wealth Management LLC Acquires 982 Shares of Cintas Co. (NASDAQ:CTAS)

Aprio Wealth Management LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 298.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,311 shares of the business services provider’s stock after purchasing an additional 982 shares during the quarter. Aprio Wealth Management LLC’s holdings in Cintas were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after purchasing an additional 112,361 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Cintas by 0.4% during the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after purchasing an additional 3,471 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock valued at $438,402,000 after purchasing an additional 37,727 shares in the last quarter. SG Americas Securities LLC increased its position in Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Cintas by 21.1% during the second quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock valued at $271,323,000 after acquiring an additional 67,440 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Morgan Stanley upped their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Finally, Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $199.63.

Insider Activity at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is owned by corporate insiders.

Cintas Stock Performance

NASDAQ:CTAS opened at $207.02 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12-month low of $122.60 and a 12-month high of $211.57. The stock has a 50-day moving average price of $210.65 and a 200 day moving average price of $186.36. The stock has a market capitalization of $21.00 billion, a P/E ratio of 14.30, a P/E/G ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released 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 return on equity of 37.82% and a net margin of 16.38%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business posted $3.70 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. Equities research analysts forecast that Cintas Co. will post 4.16 EPS 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 paid 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 was Thursday, August 15th. Cintas’s payout ratio is presently 10.77%.

Cintas announced that its board has initiated a stock repurchase 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 purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.