Cintas Co. (NASDAQ:CTAS) is Segment Wealth Management LLC’s 10th Largest Position

Segment Wealth Management LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 290.0% in the third quarter, Holdings Channel.com reports. The firm owned 100,424 shares of the business services provider’s stock after purchasing an additional 74,674 shares during the period. Cintas comprises approximately 1.4% of Segment Wealth Management LLC’s investment portfolio, making the stock its 10th largest position. Segment Wealth Management LLC’s holdings in Cintas were worth $20,675,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. LGT Financial Advisors LLC lifted its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the second quarter valued at $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas in the first quarter valued at $29,000. Meeder Asset Management Inc. lifted its holdings in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares in the last quarter. Finally, Webster Bank N. A. purchased a new stake in shares of Cintas in the first quarter valued at $38,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Jefferies Financial Group dropped their price target 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. Robert W. Baird upped their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Finally, Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Down 0.0 %

Cintas stock opened at $211.54 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The company’s fifty day moving average price is $215.48 and its two-hundred day moving average price is $189.75.

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

Cintas announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Cintas Company 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.