Veritable L.P. Sells 225 Shares of Cintas Co. (NASDAQ:CTAS)

Veritable L.P. cut its holdings in Cintas Co. (NASDAQ:CTAS) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,804 shares of the business services provider’s stock after selling 225 shares during the quarter. Veritable L.P.’s holdings in Cintas were worth $1,394,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Spire Wealth Management boosted its holdings in shares of Cintas by 6,401.4% during the 2nd quarter. Spire Wealth Management now owns 9,362 shares of the business services provider’s stock valued at $4,654,000 after acquiring an additional 9,218 shares in the last quarter. ICW Investment Advisors LLC boosted its stake in shares of Cintas by 14.5% during the second quarter. ICW Investment Advisors LLC now owns 586 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 74 shares in the last quarter. BNP Paribas Arbitrage SNC grew its holdings in shares of Cintas by 95.1% during the second quarter. BNP Paribas Arbitrage SNC now owns 91,667 shares of the business services provider’s stock worth $45,566,000 after purchasing an additional 44,693 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Cintas by 961.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 158,054 shares of the business services provider’s stock valued at $78,565,000 after buying an additional 143,159 shares during the period. Finally, TD Asset Management Inc raised its holdings in Cintas by 18.0% in the 2nd quarter. TD Asset Management Inc now owns 164,677 shares of the business services provider’s stock valued at $81,858,000 after buying an additional 25,090 shares during the last quarter. Institutional investors and hedge funds own 62.26% of the company’s stock.

Cintas Price Performance

Shares of CTAS opened at $553.44 on Friday. The firm has a market cap of $56.37 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 3.22 and a beta of 1.29. Cintas Co. has a 52-week low of $423.06 and a 52-week high of $557.08. The business’s 50 day moving average price is $508.44 and its two-hundred day moving average price is $494.19. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.56.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Tuesday, September 26th. The business services provider reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.03. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. Cintas had a net margin of 15.36% and a return on equity of 36.82%. Cintas’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.39 EPS. On average, equities analysts anticipate that Cintas Co. will post 14.35 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.98%. Cintas’s dividend payout ratio is presently 40.63%.

Insider Activity

In other Cintas news, Director Melanie W. Barstad sold 1,968 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $514.17, for a total value of $1,011,886.56. Following the transaction, the director now owns 6,250 shares in the company, valued at $3,213,562.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTAS. Bank of America decreased their price target on shares of Cintas from $580.00 to $565.00 in a research report on Wednesday, September 27th. Royal Bank of Canada restated an “outperform” rating and issued a $525.00 price objective on shares of Cintas in a report on Wednesday, September 27th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. Robert W. Baird upped their price target on Cintas from $524.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 27th. Finally, The Goldman Sachs Group upgraded Cintas from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 2nd. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Moderate Buy” and an average price target of $534.40.

Cintas Company Profile

Cintas Corporation provides 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.