Westpac Banking Corp decreased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,859 shares of the business services provider’s stock after selling 3,980 shares during the period. Westpac Banking Corp owned about 0.09% of Cintas worth $21,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sonora Investment Management LLC purchased a new position in shares of Cintas during the 2nd quarter valued at approximately $42,000. Financial Gravity Wealth Inc. purchased a new position in Cintas in the 1st quarter valued at $36,000. CWM LLC lifted its holdings in Cintas by 52.4% in the 1st quarter. CWM LLC now owns 192 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. Lenox Wealth Management Inc. lifted its holdings in Cintas by 20.5% in the 2nd quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 40 shares in the last quarter. Finally, Squar Milner Financial Services LLC lifted its holdings in Cintas by 716.7% in the 2nd quarter. Squar Milner Financial Services LLC now owns 392 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

In related news, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total transaction of $1,274,741.52. Following the completion of the sale, the insider now directly owns 69,053 shares of the company’s stock, valued at approximately $18,008,331.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,401,224.67. Following the sale, the vice president now directly owns 127,624 shares of the company’s stock, valued at $33,283,062.96. The disclosure for this sale can be found here. 19.10% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on CTAS shares. Barclays restated a “buy” rating and issued a $265.00 price objective on shares of Cintas in a report on Thursday, July 18th. William Blair restated a “buy” rating on shares of Cintas in a report on Thursday, June 20th. Zacks Investment Research upgraded Cintas from a “hold” rating to a “buy” rating and set a $273.00 price objective on the stock in a report on Thursday, July 18th. Morgan Stanley raised their target price on Cintas from $184.00 to $202.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 17th. Finally, Nomura raised their target price on Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Cintas has an average rating of “Buy” and an average target price of $241.44.

Shares of CTAS traded up $4.91 during midday trading on Tuesday, reaching $266.31. The company had a trading volume of 22,719 shares, compared to its average volume of 673,446. Cintas Co. has a 1-year low of $155.98 and a 1-year high of $266.56. The company has a market capitalization of $27.00 billion, a PE ratio of 35.01, a PEG ratio of 3.06 and a beta of 0.99. The business has a 50 day simple moving average of $250.25. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.69 and a current ratio of 1.98.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.13. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company earned $1.77 EPS. On average, sell-side analysts predict that Cintas Co. will post 8.45 EPS for the current year.

About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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