UBS Asset Management Americas Inc. raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 353,368 shares of the business services provider’s stock after buying an additional 23,764 shares during the period. UBS Asset Management Americas Inc.’s holdings in Cintas were worth $124,901,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in Cintas during the fourth quarter worth $26,000. Phoenix Wealth Advisors purchased a new stake in shares of Cintas during the 4th quarter valued at approximately $28,000. Alpha Paradigm Partners LLC bought a new position in Cintas in the 4th quarter worth approximately $30,000. Luken Investment Analytics LLC bought a new position in Cintas in the 4th quarter worth approximately $35,000. Finally, Regent Peak Wealth Advisors LLC purchased a new position in Cintas in the 4th quarter valued at approximately $39,000. 64.08% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on CTAS. Stifel Nicolaus raised their price target on Cintas from $323.00 to $365.00 and gave the stock a “hold” rating in a report on Wednesday, December 23rd. William Blair raised Cintas from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 16th. Royal Bank of Canada lifted their target price on Cintas from $360.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, December 23rd. They noted that the move was a valuation call. Northcoast Research reissued a “neutral” rating on shares of Cintas in a report on Wednesday, December 23rd. Finally, Morgan Stanley raised their price objective on shares of Cintas from $324.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Cintas has an average rating of “Hold” and a consensus price target of $329.78.
Shares of CTAS opened at $350.30 on Thursday. Cintas Co. has a 12-month low of $185.51 and a 12-month high of $369.20. The company has a current ratio of 2.06, a quick ratio of 1.70 and a debt-to-equity ratio of 0.64. The company has a market cap of $36.79 billion, a PE ratio of 39.32, a price-to-earnings-growth ratio of 3.53 and a beta of 1.49. The stock has a 50-day moving average price of $341.84 and a 200-day moving average price of $342.08.
Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, March 16th. The business services provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.15. Cintas had a net margin of 13.90% and a return on equity of 28.02%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $2.16 earnings per share. Cintas’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, analysts predict that Cintas Co. will post 9.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, February 15th were issued a dividend of $0.75 per share. This is an increase from Cintas’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Thursday, February 11th. Cintas’s payout ratio is currently 36.99%.
Cintas Company Profile
Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, All Other, and Corporate. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.
See Also: When is a capital gain realized?
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS).
Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.