Federated Hermes Inc. Has $64.94 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Federated Hermes Inc. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,738 shares of the business services provider’s stock after buying an additional 3,527 shares during the quarter. Federated Hermes Inc. owned approximately 0.09% of Cintas worth $64,941,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC grew its position in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Cintas in the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Cintas in the first quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in shares of Cintas in the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. grew its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CTAS shares. Wells Fargo & Company raised Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Robert W. Baird reiterated a “neutral” rating and issued a $193.75 price target (up from $187.50) on shares of Cintas in a research note on Friday, July 19th. Stifel Nicolaus boosted their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Truist Financial boosted their price target on Cintas from $193.75 to $212.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $185.41.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.10% of the stock is owned by corporate insiders.

Cintas Stock Up 0.8 %

Shares of CTAS opened at $207.77 on Friday. Cintas Co. has a 52 week low of $118.68 and a 52 week high of $209.12. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The stock has a fifty day moving average of $204.28 and a 200-day moving average of $180.68.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company earned $0.83 EPS. Cintas’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Thursday, August 15th. Cintas’s payout ratio is 43.09%.

Cintas announced that its board has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.