Cintas Co. (NASDAQ:CTAS) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 230.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,120 shares of the business services provider’s stock after purchasing an additional 4,968 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Cintas were worth $1,466,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CTAS. Janus Henderson Group PLC lifted its holdings in shares of Cintas by 36.8% during the 1st quarter. Janus Henderson Group PLC now owns 16,137 shares of the business services provider’s stock valued at $11,081,000 after acquiring an additional 4,340 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Cintas by 5.7% during the first quarter. Atria Investments Inc now owns 5,680 shares of the business services provider’s stock worth $3,903,000 after purchasing an additional 306 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Cintas by 141.3% in the first quarter. Cetera Investment Advisers now owns 25,498 shares of the business services provider’s stock worth $17,518,000 after buying an additional 14,930 shares during the period. Cetera Advisors LLC grew its stake in shares of Cintas by 185.1% in the first quarter. Cetera Advisors LLC now owns 8,980 shares of the business services provider’s stock valued at $6,170,000 after buying an additional 5,830 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $225.79 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $91.06 billion, a price-to-earnings ratio of 57.02, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12. The business has a 50 day simple moving average of $212.76 and a 200-day simple moving average of $198.87.

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

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas’s payout ratio is currently 39.39%.

Analyst Ratings Changes

CTAS has been the subject of a number of analyst reports. Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. UBS Group upped their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada upped their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Two research 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 stock currently has an average rating of “Hold” and a consensus price target of $199.63.

About Cintas

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.