Hartford Investment Management Co. Grows Position in Cintas Co. (NASDAQ:CTAS)

Hartford Investment Management Co. increased its holdings in Cintas Co. (NASDAQ:CTAS) by 290.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,591 shares of the business services provider’s stock after purchasing an additional 16,062 shares during the period. Hartford Investment Management Co.’s holdings in Cintas were worth $4,445,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Creative Planning lifted its holdings in shares of Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after buying an additional 4,957 shares during the period. Western Financial Corp CA lifted its holdings in Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after acquiring an additional 10,177 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in Cintas by 2,063.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock valued at $16,666,000 after acquiring an additional 22,700 shares during the period. Nisa Investment Advisors LLC boosted its position in Cintas by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock worth $27,378,000 after purchasing an additional 838 shares during the last quarter. Finally, Ullmann Wealth Partners Group LLC grew its stake in shares of Cintas by 281.9% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 8,887 shares of the business services provider’s stock valued at $1,830,000 after purchasing an additional 6,560 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.9 %

NASDAQ CTAS opened at $209.71 on Thursday. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $21.28 billion, a PE ratio of 14.48, a P/E/G ratio of 4.12 and a beta of 1.32. The stock’s 50 day moving average is $215.86 and its 200 day moving average is $189.89.

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

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Finally, Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Profile

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.