First Business Financial Services Inc. Has $359,000 Holdings in Cintas Co. (NASDAQ:CTAS)

First Business Financial Services Inc. trimmed its position in shares of Cintas Co. (NASDAQ:CTAS) by 16.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 513 shares of the business services provider’s stock after selling 99 shares during the period. First Business Financial Services Inc.’s holdings in Cintas were worth $359,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in shares of Cintas by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 39,097 shares of the business services provider’s stock valued at $27,378,000 after purchasing an additional 838 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Cintas by 111.5% in the second quarter. QRG Capital Management Inc. now owns 7,355 shares of the business services provider’s stock valued at $5,151,000 after buying an additional 3,878 shares in the last quarter. Bensler LLC grew its position in Cintas by 4.7% in the second quarter. Bensler LLC now owns 14,349 shares of the business services provider’s stock valued at $10,048,000 after acquiring an additional 646 shares during the last quarter. SG Americas Securities LLC raised its stake in Cintas by 19.8% during the second quarter. SG Americas Securities LLC now owns 14,733 shares of the business services provider’s stock worth $10,317,000 after acquiring an additional 2,439 shares in the last quarter. Finally, Milestone Asset Management LLC bought a new position in shares of Cintas in the second quarter worth about $1,318,000. 63.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $765.72, for a total value of $842,292.00. Following the transaction, the director now owns 31,452 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.10% of the company’s stock.

Cintas Stock Down 1.9 %

NASDAQ:CTAS traded down $15.07 on Thursday, hitting $789.71. The stock had a trading volume of 133,448 shares, compared to its average volume of 368,738. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52 week low of $474.74 and a 52 week high of $812.01. The business’s fifty day moving average is $752.94 and its 200 day moving average is $697.06. The company has a market cap of $80.13 billion, a PE ratio of 55.58, a P/E/G ratio of 4.28 and a beta of 1.31.

Shares of Cintas are going to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $3.99 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.19. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business posted $3.33 EPS. Cintas’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Cintas Co. will post 16.64 EPS for the current fiscal year.

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

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $1.56 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $6.24 dividend on an annualized basis and a yield of 0.79%. This is an increase from Cintas’s previous quarterly dividend of $1.35. Cintas’s payout ratio is 43.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CTAS shares. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Royal Bank of Canada downgraded Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 target price for the company. in a research report on Monday, July 15th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $670.00 price objective for the company. Finally, Morgan Stanley lifted their target price on shares of Cintas from $575.00 to $625.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $742.36.

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.