Great Lakes Retirement Inc. Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Great Lakes Retirement Inc. raised its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,324 shares of the business services provider’s stock after purchasing an additional 2,493 shares during the period. Great Lakes Retirement Inc.’s holdings in Cintas were worth $684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CTAS. Alecta Tjanstepension Omsesidigt increased its holdings in Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares in the last quarter. Legal & General Group Plc grew its position in shares of Cintas by 0.4% in the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after purchasing an additional 3,471 shares during the period. Nordea Investment Management AB increased its stake in shares of Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after purchasing an additional 37,727 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Cintas by 300.0% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after buying an additional 486,500 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $209.13 on Friday. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37. The stock’s fifty day moving average is $215.86 and its two-hundred day moving average is $189.89. The company has a market capitalization of $21.22 billion, a P/E ratio of 14.44, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 EPS. Equities analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has authorized a share buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CTAS shares. Wells Fargo & Company increased their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Jefferies Financial Group decreased their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada lifted their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group increased their target price on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Company 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.