HWG Holdings LP Grows Holdings in Cintas Co. (NASDAQ:CTAS)

HWG Holdings LP lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 3,346.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 19,922 shares of the business services provider’s stock after acquiring an additional 19,344 shares during the period. Cintas makes up 1.4% of HWG Holdings LP’s investment portfolio, making the stock its 21st biggest position. HWG Holdings LP’s holdings in Cintas were worth $4,102,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Ballentine Partners LLC boosted its stake in shares of Cintas by 242.7% in the 3rd quarter. Ballentine Partners LLC now owns 2,190 shares of the business services provider’s stock valued at $451,000 after purchasing an additional 1,551 shares in the last quarter. Freedom Day Solutions LLC boosted its position in Cintas by 297.2% during the third quarter. Freedom Day Solutions LLC now owns 20,966 shares of the business services provider’s stock valued at $4,316,000 after buying an additional 15,688 shares during the period. Busey Bank grew its stake in shares of Cintas by 309.3% during the third quarter. Busey Bank now owns 1,232 shares of the business services provider’s stock valued at $254,000 after buying an additional 931 shares during the last quarter. E. Ohman J or Asset Management AB increased its holdings in shares of Cintas by 269.2% in the third quarter. E. Ohman J or Asset Management AB now owns 14,400 shares of the business services provider’s stock worth $2,965,000 after buying an additional 10,500 shares during the period. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of Cintas in the 3rd quarter valued at about $732,000. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

Shares of CTAS stock opened at $209.13 on Friday. The business’s fifty day moving average is $215.86 and its 200 day moving average is $189.89. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a twelve month low of $123.65 and a twelve month high of $215.37.

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

Cintas announced that its Board of Directors has approved a share repurchase program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CTAS shares. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. The Goldman Sachs Group increased their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $199.63.

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.