Natixis Investment Managers International Acquires 114 Shares of Cintas Co. (NASDAQ:CTAS)

Natixis Investment Managers International lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 20.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 662 shares of the business services provider’s stock after purchasing an additional 114 shares during the quarter. Natixis Investment Managers International’s holdings in Cintas were worth $252,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Natixis boosted its holdings in Cintas by 333.4% in the second quarter. Natixis now owns 18,235 shares of the business services provider’s stock worth $6,966,000 after purchasing an additional 14,028 shares in the last quarter. Covington Capital Management lifted its position in shares of Cintas by 10.8% in the second quarter. Covington Capital Management now owns 8,145 shares of the business services provider’s stock worth $3,111,000 after buying an additional 795 shares during the last quarter. Toroso Investments LLC boosted its stake in shares of Cintas by 64.5% during the 2nd quarter. Toroso Investments LLC now owns 1,171 shares of the business services provider’s stock worth $447,000 after acquiring an additional 459 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of Cintas by 3.1% during the 2nd quarter. Sigma Planning Corp now owns 944 shares of the business services provider’s stock valued at $361,000 after acquiring an additional 28 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Cintas by 3.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 160,353 shares of the business services provider’s stock valued at $61,070,000 after acquiring an additional 4,631 shares during the last quarter. Institutional investors and hedge funds own 63.62% of the company’s stock.

In other news, CAO Michael Lawrence Thompson sold 20,227 shares of the business’s stock in a transaction on Wednesday, October 6th. The stock was sold at an average price of $389.14, for a total transaction of $7,871,134.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Thomas E. Frooman sold 16,904 shares of the business’s stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $392.46, for a total value of $6,634,143.84. Following the sale, the senior vice president now owns 96,357 shares of the company’s stock, valued at approximately $37,816,268.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,142 shares of company stock valued at $15,705,343. 15.80% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on CTAS shares. The Goldman Sachs Group boosted their price objective on shares of Cintas from $387.00 to $411.00 and gave the stock a “buy” rating in a research note on Tuesday, June 22nd. Robert W. Baird restated a “buy” rating on shares of Cintas in a research report on Wednesday, September 15th. Royal Bank of Canada started coverage on shares of Cintas in a report on Thursday, September 2nd. They set an “outperform” rating and a $450.00 price objective for the company. Bank of America raised their price target on shares of Cintas from $383.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, September 30th. Finally, Argus upped their price objective on Cintas from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, July 20th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $401.78.

Shares of NASDAQ CTAS traded up $5.54 during mid-day trading on Thursday, hitting $410.87. 722 shares of the stock were exchanged, compared to its average volume of 423,580. Cintas Co. has a twelve month low of $311.69 and a twelve month high of $409.80. The stock’s fifty day simple moving average is $394.54 and its two-hundred day simple moving average is $373.82. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.22 and a current ratio of 1.47. The company has a market cap of $42.49 billion, a P/E ratio of 39.58, a PEG ratio of 3.95 and a beta of 1.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, September 28th. The business services provider reported $3.11 EPS for the quarter, topping the Zacks’ consensus estimate of $2.76 by $0.35. Cintas had a return on equity of 30.22% and a net margin of 15.61%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $2.78 EPS. Cintas’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Cintas Co. will post 10.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 13th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 12th. This is a boost from Cintas’s previous quarterly dividend of $0.75. Cintas’s dividend payout ratio is presently 37.11%.

Cintas Profile

Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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