Thompson Siegel & Walmsley LLC acquires 1,428 shares of Cintas Co. (NASDAQ:CTAS)

Thompson Siegel & Walmsley LLC raised its stake in Cintas Co. (NASDAQ:CTAS – Free Report) by 476.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,728 shares of the business services provider’s stock after buying an additional 1,428 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Cintas were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. Vanguard Group Inc. boosted its holdings in Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after purchasing an additional 112,361 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Cintas by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 806,369 shares of the business services provider’s stock valued at $554,000,000 after purchasing an additional 27,470 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Cintas by 6.3% in the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after purchasing an additional 37,727 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Cintas by 21.1% in the second quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after purchasing an additional 67,440 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after buying an additional 201,955 shares in the last quarter. Institutional investors own 63.46% of the company’s shares.

Changes in Analyst Ratings

CTAS has been the subject of a number of research reports. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Barclays dropped their target price on shares of Cintas from $850.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada cut shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 price objective for the company. in a research note on Monday, July 15th. Robert W. Baird restated a “neutral” rating and issued a $193.75 target price (up from $187.50) on shares of Cintas in a report on Friday, July 19th. Finally, Baird RW downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $185.41.

Get the latest analysis on CTAS

Insider activity at Cintas

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

Cintas stock falls 1.4%

Shares of NASDAQ:CTAS 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. The company has a 50 day simple moving average of $204.83 and a two hundred day simple moving average of $181.35. Cintas Co. has a 1 year low of $118.68 and a 1 year high of $209.12. The firm has a market cap of $20.79 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. In the same quarter last year, the business earned $0.83 EPS. Cintas’s revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Cintas Co. will post 16.64 EPS for the current year.

Cintas Cut Dividend

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

Cintas declared that its board has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Stock buyback plans are often a sign that a company’s board believes its stock is undervalued.

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.

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