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

Key Points

• OneAscent Investment Solutions LLC invested approximately $238,000 in Cintas Corporation during the 1st quarter, acquiring 1,158 shares of the business services provider.
• Cintas Corporation reported earnings of $1.09 per share, surpassing analyst estimates, with revenue of $2.67 billion, marking an 8% increase year-over-year.
• The company announced a quarterly dividend increase from $0.39 to $0.45 per share, with the next payout scheduled for September 15th, reflecting an annualized yield of 0.8%.

OneAscent Investment Solutions LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,158 shares of the business services provider's stock, valued at approximately $238,000.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC bought a new stake in Cintas in the first quarter valued at $41,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after purchasing an additional 181 shares in the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Cintas in the 1st quarter worth about $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cintas during the 1st quarter worth about $46,000. Finally, Wellington Shields & Co. LLC bought a new position in Cintas during the 1st quarter valued at about $51,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the transaction, the director owned 21,945 shares of the company's stock, valued at approximately $4,904,049.15. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTAS. The Goldman Sachs Group upped their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. UBS Group increased their price target on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective for the company. Robert W. Baird boosted their price objective on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Finally, Morgan Stanley raised their target price on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and an average target price of $224.54.

Cintas Trading Down 2.2%

Cintas stock traded down $4.81 during mid-day trading on Friday, hitting $216.55. The stock had a trading volume of 1,398,396 shares, compared to its average volume of 1,365,709. The stock has a market capitalization of $87.27 billion, a PE ratio of 49.10, a P/E/G ratio of 3.73 and a beta of 1.03. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. 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 stock has a 50-day simple moving average of $220.86 and a two-hundred day simple moving average of $212.13.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm's revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $3.99 EPS. As a group, sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

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

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.