Congress Asset Management Co. Has $161.53 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Congress Asset Management Co. increased its position in Cintas Co. (NASDAQ:CTAS) by 295.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 784,589 shares of the business services provider’s stock after purchasing an additional 586,271 shares during the period. Cintas makes up 1.1% of Congress Asset Management Co.’s investment portfolio, making the stock its 13th largest holding. Congress Asset Management Co. owned about 0.77% of Cintas worth $161,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. LGT Financial Advisors LLC grew its position in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas in the first quarter valued at approximately $29,000. Meeder Asset Management Inc. grew its holdings in Cintas by 226.7% during 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 period. Finally, Crewe Advisors LLC raised its stake in shares of Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after buying an additional 32 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Stock Down 0.6 %

NASDAQ:CTAS traded down $1.30 during mid-day trading on Thursday, hitting $206.55. 88,571 shares of the company’s stock were exchanged, compared to its average volume of 1,451,047. Cintas Co. has a one year low of $125.62 and a one year high of $215.37. The business has a fifty day moving average price of $217.38 and a 200 day moving average price of $191.29. The company has a market cap of $20.96 billion, a PE ratio of 14.35, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

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

Cintas declared that its board has authorized a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 10.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.