Blair William & Co. IL lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 7.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 287,495 shares of the business services provider’s stock after acquiring an additional 19,408 shares during the quarter. Blair William & Co. IL owned 0.28% of Cintas worth $109,823,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Kentucky Retirement Systems purchased a new stake in shares of Cintas during the second quarter valued at approximately $1,963,000. Bank of Montreal Can increased its position in shares of Cintas by 26.7% during the second quarter. Bank of Montreal Can now owns 124,928 shares of the business services provider’s stock valued at $47,834,000 after acquiring an additional 26,362 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Cintas during the second quarter valued at approximately $250,000. The Manufacturers Life Insurance Company increased its position in shares of Cintas by 22.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,285,801 shares of the business services provider’s stock valued at $491,176,000 after acquiring an additional 237,260 shares during the last quarter. Finally, Paradigm Financial Partners LLC grew its holdings in Cintas by 7.3% during the second quarter. Paradigm Financial Partners LLC now owns 7,721 shares of the business services provider’s stock valued at $2,949,000 after purchasing an additional 523 shares during the period. 63.62% of the stock is owned by institutional investors.
Several equities analysts have weighed in on the company. Robert W. Baird reissued a “buy” rating on shares of Cintas in a report on Wednesday, September 15th. Credit Suisse Group increased their price objective on Cintas from $350.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, July 16th. Argus increased their price objective on Cintas from $390.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, July 20th. Morgan Stanley increased their price objective on Cintas from $353.00 to $368.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Royal Bank of Canada began coverage on Cintas in a report on Thursday, September 2nd. They issued an “outperform” rating and a $450.00 price target for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $402.11.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, July 14th. The business services provider reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.17. Cintas had a return on equity of 30.22% and a net margin of 15.61%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company earned $1.35 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts expect that Cintas Co. will post 10.69 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Friday, August 13th were given a dividend of $0.95 per share. This is an increase from Cintas’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $3.80 dividend on an annualized basis and a yield of 0.94%. Cintas’s dividend payout ratio (DPR) is presently 37.11%.
In other Cintas news, SVP Thomas E. Frooman sold 16,904 shares of the firm’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $392.46, for a total transaction of $6,634,143.84. Following the sale, the senior vice president now owns 96,357 shares in the company, valued at $37,816,268.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.80% of the company’s stock.
Cintas Company Profile
Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.
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