Thurston Springer Miller Herd & Titak Inc. Acquires 10,704 Shares of Cintas Co. (NASDAQ:CTAS)

by · The Cerbat Gem

Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 423.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,229 shares of the business services provider’s stock after purchasing an additional 10,704 shares during the period. Cintas makes up 0.8% of Thurston Springer Miller Herd & Titak Inc.’s portfolio, making the stock its 17th biggest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Cintas were worth $2,723,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CTAS. Legal & General Group Plc boosted its stake in shares of Cintas by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after buying an additional 3,471 shares during the last quarter. Nordea Investment Management AB grew its position in Cintas by 6.3% in the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after acquiring an additional 37,727 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of 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 buying an additional 486,500 shares during the period. Acadian Asset Management LLC boosted its position in shares of 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 buying an additional 67,440 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after acquiring an additional 201,955 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTAS shares. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. 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 report on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group lowered their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two investment 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’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Check Out Our Latest Research Report on Cintas

Cintas Trading Up 0.9 %

Cintas stock opened at $208.05 on Monday. The company has a 50 day moving average price of $212.01 and a 200 day moving average price of $187.64. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $211.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a market capitalization of $21.11 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS – Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.70 EPS. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has approved 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s payout ratio is 10.77%.

Cintas Profile

(Free Report)

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.

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