Ethic Inc. Acquires 989 Shares of Cintas Co. (NASDAQ:CTAS)

Ethic Inc. lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 41.5% during the second quarter, Holdings Channel reports. The firm owned 3,375 shares of the business services provider’s stock after acquiring an additional 989 shares during the period. Ethic Inc.’s holdings in Cintas were worth $1,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTAS. Victory Capital Management Inc. lifted its position in Cintas by 3.5% during the first quarter. Victory Capital Management Inc. now owns 105,893 shares of the business services provider’s stock valued at $36,142,000 after purchasing an additional 3,574 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Cintas by 5.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 11,889 shares of the business services provider’s stock valued at $4,058,000 after buying an additional 618 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Cintas by 3.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 108,074 shares of the business services provider’s stock valued at $36,887,000 after buying an additional 3,722 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in Cintas by 12.7% in the 1st quarter. IFM Investors Pty Ltd now owns 9,736 shares of the business services provider’s stock worth $3,323,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Donaldson Capital Management LLC lifted its stake in Cintas by 11.5% during the 1st quarter. Donaldson Capital Management LLC now owns 1,915 shares of the business services provider’s stock valued at $653,000 after acquiring an additional 198 shares during the period. Institutional investors and hedge funds own 63.62% of the company’s stock.

NASDAQ:CTAS opened at $396.11 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.22 and a current ratio of 1.47. The stock has a market cap of $40.79 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 3.95 and a beta of 1.50. Cintas Co. has a one year low of $307.65 and a one year high of $409.80. The business’s 50-day simple moving average is $391.26 and its 200 day simple moving average is $366.20.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 14th. The business services provider reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.17. Cintas had a return on equity of 30.22% and a net margin of 15.61%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Cintas Co. will post 10.69 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Friday, August 13th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 12th. This is a boost from Cintas’s previous quarterly dividend of $0.75. Cintas’s dividend payout ratio (DPR) is presently 37.11%.

A number of analysts recently issued reports on CTAS shares. Royal Bank of Canada started coverage on Cintas in a research report on Thursday, September 2nd. They issued an “outperform” rating and a $450.00 price target for the company. Barclays raised their price target on Cintas from $405.00 to $415.00 and gave the stock an “overweight” rating in a report on Friday, July 16th. Argus boosted their price target on Cintas from $390.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, July 20th. Morgan Stanley boosted their price objective on Cintas from $333.00 to $353.00 and gave the company an “equal weight” rating in a research report on Friday, July 16th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Cintas in a research report on Wednesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cintas currently has an average rating of “Buy” and a consensus price target of $400.44.

In other news, SVP Thomas E. Frooman sold 16,904 shares of the firm’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $392.46, for a total transaction of $6,634,143.84. Following the completion of the sale, the senior vice president now owns 96,357 shares of the company’s stock, valued at $37,816,268.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 15.80% of the stock is currently owned by company insiders.

Cintas 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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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