Mesirow Financial Investment Management Inc. owns $230,000 of stock in Cintas Co. (NASDAQ:CTAS)

VaselineSeptember 18, 2024

0 4 minutes read

Mesirow Financial Investment Management Inc. reduced its holdings in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 19.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329 shares of the business services provider’s stock after selling 81 shares during the period. The holdings of Mesirow Financial Investment Management Inc. holdings in Cintas were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have recently modified their holdings of the company. LGT Financial Advisors LLC boosted its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas in the first quarter valued at about $29,000. Rise Advisors LLC bought a new stake in shares of Cintas in the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the period. 63.46% of shares are owned by institutional investors.

Changes in Analyst Ratings

A number of equities research analysts recently issued reports on the stock. UBS Group upped their target price on shares of Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a report on Friday, July 19th. Robert W. Baird reissued 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. Royal Bank of Canada lowered shares of Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 target price on the stock. in a report on Monday, July 15. Morgan Stanley upped their target price on shares of Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and upped their target price for the company from $132.50 to $142.50 in a report on Friday , May 24. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $186.30, based on data from MarketBeat.

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Cintas stock performance

NASDAQ CTAS opened at $203.77 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.52, and a debt-to-equity ratio of 0.47. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 4.36 and a beta of 1.32. The company’s 50-day simple moving average is $205.34, and its 200-day simple moving average is $181.68. Cintas Co. has a 1 year low of $118.68 and a 1 year high of $209.12.

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 (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. In the same quarter last year, the business posted EPS of $0.83. The company’s revenue for the quarter was up 8.2% year over year. As a group, research analysts expect Cintas Co. to post 16.64 earnings per share for the current fiscal year.

Cintas Cut Dividend

The company also recently announced 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 of this dividend was Thursday, August 15. This represents a dividend of $1.56 on an annualized basis and a yield of 0.77%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas declared that its Board of Directors has approved a stock buyback program 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 repurchase up to 1.3% of its shares through open market purchases. Stock buyback programs are usually an indication that a company’s board of directors believes its stock is undervalued.

Insider buying and selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas 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 transaction, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Company insiders own 15.10% of the company’s shares.

About Cintas

(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.