Natixis Advisors LLC Purchases 21,623 Shares of Cintas Corporation (NASDAQ:CTAS)

Key Points

• Natixis Advisors LLC increased its stake in Cintas Corporation by 5.2%, owning approximately 434,169 shares valued at $89.24 million.
• Cintas has announced a quarterly dividend increase from $0.39 to $0.45 per share, with an annualized yield of 0.81% and a dividend payout ratio of 35.37%.
• The company reported earnings of $1.09 per share for the latest quarter, exceeding analyst expectations, and has been upgraded by various analysts with a current average target price of $224.54.

Natixis Advisors LLC increased its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,169 shares of the business services provider's stock after acquiring an additional 21,623 shares during the quarter. Natixis Advisors LLC owned approximately 0.11% of Cintas worth $89,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC raised its stake in Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock valued at $258,000 after purchasing an additional 47 shares during the period. MJP Associates Inc. ADV grew its holdings in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after buying an additional 50 shares in the last quarter. Kathmere Capital Management LLC raised its position in shares of Cintas by 4.1% during the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after buying an additional 51 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Cintas by 4.1% in the first quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock worth $265,000 after buying an additional 51 shares in the last quarter. Finally, Wellspring Financial Advisors LLC grew its stake in Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after acquiring an additional 52 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CTAS shares. Morgan Stanley increased their price objective 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. UBS Group raised their price target on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Cintas in a report on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective on the stock. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Finally, Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Trading Down 0.5%

Shares of CTAS traded down $1.05 during mid-day trading on Friday, reaching $221.50. 1,304,254 shares of the company's stock traded hands, compared to its average volume of 1,374,874. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The stock's 50-day moving average is $221.43 and its two-hundred day moving average is $210.46. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The stock has a market cap of $89.26 billion, a P/E ratio of 50.23, a P/E/G ratio of 3.48 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $2.67 billion during 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 business's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.99 earnings per share. Research analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling at Cintas

In related news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares of the company's stock, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Mucci bought 1,200 shares of the company's stock in a transaction on Monday, July 21st. The shares were acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the acquisition, the director owned 2,621 shares in the company, valued at $583,303.55. This represents a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by corporate insiders.

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.