Parallel Advisors LLC Acquires 77 Shares of Cintas Co. (NASDAQ:CTAS)

Parallel Advisors LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 5.2% during the 3rd quarter, Holdings Channel reports. The firm owned 1,566 shares of the business services provider’s stock after purchasing an additional 77 shares during the period. Parallel Advisors LLC’s holdings in Cintas were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Cintas by 4.0% in the second quarter. Vanguard Group Inc. now owns 10,033,781 shares of the business services provider’s stock valued at $2,380,916,000 after acquiring an additional 382,578 shares during the last quarter. BlackRock Inc. increased its stake in Cintas by 2.3% in the second quarter. BlackRock Inc. now owns 5,741,865 shares of the business services provider’s stock valued at $1,362,486,000 after acquiring an additional 129,625 shares during the last quarter. Invesco Ltd. increased its stake in Cintas by 41.1% in the second quarter. Invesco Ltd. now owns 3,146,487 shares of the business services provider’s stock valued at $746,630,000 after acquiring an additional 916,169 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Cintas by 11.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,337,285 shares of the business services provider’s stock valued at $317,324,000 after acquiring an additional 136,868 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Cintas by 0.5% in the second quarter. Northern Trust Corp now owns 1,034,141 shares of the business services provider’s stock valued at $245,392,000 after acquiring an additional 4,992 shares during the last quarter. 67.04% of the stock is currently owned by institutional investors.

In other Cintas news, CAO Michael Lawrence Thompson sold 2,000 shares of Cintas stock in a transaction on Friday, October 11th. The shares were sold at an average price of $268.23, for a total value of $536,460.00. Following the completion of the sale, the chief accounting officer now directly owns 62,906 shares of the company’s stock, valued at $16,873,276.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 15.90% of the company’s stock.

Cintas stock traded down $1.12 during mid-day trading on Friday, reaching $260.88. The company had a trading volume of 630,000 shares, compared to its average volume of 519,670. The company has a market cap of $27.63 billion, a P/E ratio of 34.33, a P/E/G ratio of 3.00 and a beta of 0.99. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.87. Cintas Co. has a fifty-two week low of $155.98 and a fifty-two week high of $277.85. The business has a fifty day simple moving average of $265.44 and a 200 day simple moving average of $247.67.

Cintas (NASDAQ:CTAS) last released its earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.17. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Cintas had a net margin of 13.18% and a return on equity of 28.61%. Cintas’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 earnings per share. Research analysts forecast that Cintas Co. will post 8.57 EPS for the current year.

Cintas announced that its board has authorized a stock repurchase plan on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently declared an annual dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $2.55 dividend. The ex-dividend date is Thursday, November 7th. Cintas’s dividend payout ratio (DPR) is currently 26.97%.

A number of research analysts recently issued reports on the stock. Barclays set a $295.00 price objective on shares of Cintas and gave the company a “buy” rating in a research note on Friday, September 27th. Stifel Nicolaus lifted their price objective on shares of Cintas from $226.00 to $256.00 and gave the company a “hold” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lifted their price objective on shares of Cintas from $267.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Credit Suisse Group lifted their price objective on shares of Cintas from $195.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Morgan Stanley lifted their price objective on shares of Cintas from $217.00 to $223.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $262.40.

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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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