Cintas Co. (NASDAQ:CTAS) Shares Sold by Prime Capital Investment Advisors LLC

VaselineSeptember 17, 2024

0 4 minutes read

Prime Capital Investment Advisors LLC reduced its stake in Cintas Co. (NASDAQ:CTAS – Free Report) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,966 shares of the business services provider’s stock after selling 856 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Cintas were worth $2,077,000 as of its most recent SEC filing.

A number of other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after acquiring an additional 838 shares during the period. actions during the period. QRG Capital Management Inc. boosted its holdings in Cintas by 111.5% in the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after buying an additional 3,878 shares during the last quarter. Journey Advisory Group LLC boosted its holdings in Cintas by 17.1% in the second quarter. Journey Advisory Group LLC now owns 6,442 shares of the business services provider’s stock valued at $4,511,000 after buying an additional 940 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Cintas by 105.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,020 shares of the business services provider’s stock valued at $3,515,000 after buying an additional 2,580 shares of shares in the last quarter. Finally, Bensler LLC boosted its holdings in Cintas by 4.7% in the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock valued at $10,048,000 after purchasing an additional 646 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s shares.

Analyst upgrades and downgrades

CTAS has been the subject of a number of analyst reports. Baird RW lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial lifted their price objective on Cintas from $193.75 to $212.50 and gave the company a “buy” rating in a report on Friday, July 19th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Citigroup lowered Cintas from a “neutral” rating to a “sell” rating and upped their target price for the stock from $132.50 to $142.50 in a research note on Friday, May 24th. Finally, Wells Fargo & Company raised Cintas to a “strong sell” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $185.41, based on data from MarketBeat.com.

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Cintas trades down 1.4%

Cintas stock opened at $204.95 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74, and a quick ratio of 1.52. Cintas Co. has a 1 year low of $118.68 and a 1 year high of $209.12. The company has a market cap of $20.79 billion, a P/E ratio of 14.15, a P/E/G ratio of 4.36 and a beta of 1.32. The company has a 50-day moving average price of $204.83 and a 200-day moving average price of $181.35.

Cintas (NASDAQ:CTAS – Get Free Report ) last posted its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.05. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’ revenue rose 8.2% year over year. During the same period in the previous year, the firm posted EPS of $0.83. Sell-side analysts anticipate that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas Cut Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.39 dividend. The ex-dividend date was Thursday, August 15. This represents an annualized dividend of $1.56 and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 10.77%.

Cintas announced that its board has approved a stock buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to acquire up to 1.3% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider buying and selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.10% of shares are currently owned by insiders.

Cintas profile

(Free report)

Cintas Corporation is engaged 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 Services and Services, First Aid and Safety Services and all other segments. The company rents and services uniforms and other clothing, including flame retardant clothing, floor mats, mops and shop towels and other ancillary items; and offers restroom cleaning services and supplies as well as sells uniforms.