PDS Planning Inc Acquires 1,405 Shares of Cintas Co. (NASDAQ:CTAS)

PDS Planning Inc boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 281.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,904 shares of the business services provider’s stock after acquiring an additional 1,405 shares during the quarter. PDS Planning Inc’s holdings in Cintas were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. LGT Financial Advisors LLC grew its stake in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. grew its position in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas in the 1st quarter valued at approximately $29,000. Finally, Grove Bank & Trust boosted its stake in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CTAS shares. Robert W. Baird increased their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Morgan Stanley raised their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Finally, UBS Group increased their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 0.9 %

NASDAQ:CTAS opened at $207.56 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market cap of $83.71 billion, a PE ratio of 52.41, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32. The company has a 50 day simple moving average of $217.93 and a two-hundred day simple moving average of $192.31. Cintas Co. has a 12 month low of $128.92 and a 12 month high of $215.37.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s payout ratio is presently 39.39%.

Cintas declared that its board has initiated a share buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership 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.