Eads & Heald Wealth Management Invests $298,000 in Cintas Co. (CTAS)

Eads & Heald Wealth Management bought a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 1,505 shares of the business services provider’s stock, valued at approximately $298,000.

Several other hedge funds have also made changes to their positions in CTAS. MainStreet Investment Advisors LLC raised its stake in Cintas by 3.2% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 8,427 shares of the business services provider’s stock valued at $1,560,000 after purchasing an additional 265 shares during the last quarter. Quad Cities Investment Group LLC raised its stake in Cintas by 17.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 2,045 shares of the business services provider’s stock valued at $408,000 after purchasing an additional 300 shares during the last quarter. BB&T Corp raised its stake in Cintas by 9.9% in the 2nd quarter. BB&T Corp now owns 3,544 shares of the business services provider’s stock valued at $655,000 after purchasing an additional 318 shares during the last quarter. Asset Advisors Corp raised its stake in Cintas by 0.7% in the 2nd quarter. Asset Advisors Corp now owns 47,000 shares of the business services provider’s stock valued at $8,698,000 after purchasing an additional 330 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its stake in Cintas by 4.7% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 7,431 shares of the business services provider’s stock valued at $1,375,000 after purchasing an additional 331 shares during the last quarter. 66.71% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on the company. Robert W. Baird set a $235.00 price objective on Cintas and gave the company a “buy” rating in a research note on Tuesday. BidaskClub downgraded Cintas from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 19th. Morgan Stanley increased their price objective on Cintas from $152.00 to $158.00 and gave the company a “$192.53” rating in a research note on Wednesday, July 18th. Credit Suisse Group assumed coverage on Cintas in a research note on Friday, August 10th. They issued a “neutral” rating and a $205.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $196.33.

Shares of CTAS opened at $181.87 on Thursday. Cintas Co. has a 52-week low of $144.40 and a 52-week high of $217.34. The firm has a market capitalization of $19.02 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 2.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.10 and a quick ratio of 2.65.

Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.13. Cintas had a return on equity of 24.13% and a net margin of 12.72%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $1.45 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Cintas Co. will post 7.24 EPS for the current fiscal year.

The business also recently announced an annual dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a $2.05 dividend. The ex-dividend date is Thursday, November 8th. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a dividend yield of 1.13%. Cintas’s dividend payout ratio (DPR) is 27.27%.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

Further Reading: Why do company’s buyback their stock?

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS).

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply