OneAscent Investment Solutions LLC Acquires Shares of 1,158 Cintas Corporation (NASDAQ:CTAS)

OneAscent Investment Solutions LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,158 shares of the business services provider’s stock, valued at approximately $238,000.

Several other large investors also recently bought and sold shares of CTAS. Vestmark Advisory Solutions Inc. raised its holdings in shares of Cintas by 95.9% in the first quarter. Vestmark Advisory Solutions Inc. now owns 38,256 shares of the business services provider’s stock valued at $7,863,000 after buying an additional 18,723 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Cintas in the first quarter valued at about $698,000. Lord Abbett & CO. LLC raised its holdings in shares of Cintas by 147.8% in the first quarter. Lord Abbett & CO. LLC now owns 310,970 shares of the business services provider’s stock valued at $63,914,000 after buying an additional 185,470 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Cintas by 4.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,748 shares of the business services provider’s stock valued at $15,980,000 after buying an additional 3,300 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of Cintas by 0.4% in the first quarter. Neuberger Berman Group LLC now owns 203,373 shares of the business services provider’s stock valued at $41,799,000 after buying an additional 781 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity

In other Cintas news, Director Martin Mucci purchased 1,200 shares of the stock in a transaction dated Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, the director directly owned 2,621 shares of the company’s stock, valued at $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the sale, the director owned 21,945 shares in the company, valued at $4,904,049.15. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTAS. Morgan Stanley upped their target price on shares of Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. The Goldman Sachs Group increased their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $240.00 price target (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. Finally, Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $224.54.

Cintas Trading Up 0.8%

Shares of CTAS opened at $225.10 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $221.19 and its two-hundred day moving average is $211.80. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The firm has a market capitalization of $90.71 billion, a P/E ratio of 51.04, a PEG ratio of 3.85 and a beta of 1.03.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 earnings per share. On average, research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a $0.45 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Cintas’s dividend payout ratio (DPR) is currently 35.37%.

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.