Reliant Investment Management LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,280 shares of the business services provider’s stock after buying an additional 810 shares during the period. Cintas accounts for about 3.2% of Reliant Investment Management LLC’s portfolio, making the stock its 12th largest holding. Reliant Investment Management LLC’s holdings in Cintas were worth $4,336,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. IFG Advisors LLC grew its position in shares of Cintas by 0.3% in the second quarter. IFG Advisors LLC now owns 11,187 shares of the business services provider’s stock valued at $2,980,000 after purchasing an additional 34 shares in the last quarter. Stephens Inc. AR lifted its holdings in Cintas by 1.1% in the second quarter. Stephens Inc. AR now owns 3,222 shares of the business services provider’s stock valued at $858,000 after acquiring an additional 34 shares during the last quarter. Summit X LLC lifted its holdings in Cintas by 1.6% in the second quarter. Summit X LLC now owns 2,169 shares of the business services provider’s stock valued at $578,000 after acquiring an additional 35 shares during the last quarter. CNB Bank lifted its holdings in Cintas by 6.8% in the second quarter. CNB Bank now owns 673 shares of the business services provider’s stock valued at $179,000 after acquiring an additional 43 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in Cintas by 61.3% in the second quarter. Harbor Investment Advisory LLC now owns 121 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 64.67% of the company’s stock.
A number of research firms recently commented on CTAS. Royal Bank of Canada upped their price objective on Cintas from $318.00 to $347.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Jefferies Financial Group upped their price objective on Cintas from $302.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. BidaskClub upgraded Cintas from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Bank of America cut Cintas from a “buy” rating to a “neutral” rating and set a $255.00 price objective on the stock. in a report on Wednesday, May 27th. They noted that the move was a valuation call. Finally, Stifel Nicolaus upped their price target on Cintas from $249.00 to $288.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $263.70.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 23rd. The business services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.13. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Cintas had a return on equity of 27.57% and a net margin of 12.36%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period last year, the firm earned $2.07 earnings per share. On average, research analysts forecast that Cintas Co. will post 8.19 EPS for the current fiscal year.
In other news, Director Ronald W. Tysoe sold 3,923 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $320.18, for a total value of $1,256,066.14. Also, CAO Michael Lawrence Thompson sold 17,650 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $319.31, for a total value of $5,635,821.50. Following the completion of the sale, the chief accounting officer now owns 42,650 shares in the company, valued at $13,618,571.50. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.
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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