LS Investment Advisors LLC Invests $217,000 in Cintas Co. (NASDAQ:CTAS)

LS Investment Advisors LLC bought a new position in Cintas Co. (NASDAQ:CTAS) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,052 shares of the business services provider’s stock, valued at approximately $217,000.

Several other large investors also recently added to or reduced their stakes in the stock. Norden Group LLC grew its stake in Cintas by 120.9% during the 1st quarter. Norden Group LLC now owns 824 shares of the business services provider’s stock worth $566,000 after purchasing an additional 451 shares in the last quarter. Empirical Finance LLC raised its stake in shares of Cintas by 3.6% during the first quarter. Empirical Finance LLC now owns 3,117 shares of the business services provider’s stock worth $2,141,000 after purchasing an additional 107 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Cintas by 25.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,730 shares of the business services provider’s stock worth $2,562,000 after acquiring an additional 764 shares during the period. Empowered Funds LLC boosted its holdings in Cintas by 16.3% in the 1st quarter. Empowered Funds LLC now owns 3,706 shares of the business services provider’s stock valued at $2,546,000 after purchasing an additional 519 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Cintas by 115.5% during the first quarter. SG Americas Securities LLC now owns 12,294 shares of the business services provider’s stock worth $8,446,000 after acquiring an additional 6,589 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTAS. UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

NASDAQ:CTAS opened at $219.52 on Friday. The firm has a 50-day moving average price of $218.46 and a 200 day moving average price of $192.79. 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 firm has a market capitalization of $88.53 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a 12-month low of $131.01 and a 12-month high of $219.87.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Cintas declared that its board has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Cintas

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.