Cintas Co. (NASDAQ:CTAS) Shares Acquired by Ascent Group LLC

Ascent Group LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 255.3% during the third quarter, Holdings Channel.com reports. The fund owned 27,672 shares of the business services provider’s stock after buying an additional 19,884 shares during the period. Ascent Group LLC’s holdings in Cintas were worth $5,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after buying an additional 1,904,926 shares in the last quarter. Impax Asset Management Group plc grew its stake in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after acquiring an additional 1,648,350 shares during the period. King Luther Capital Management Corp increased its holdings in Cintas by 293.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after acquiring an additional 1,419,975 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cintas by 258.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after acquiring an additional 1,365,825 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.8 %

Shares of CTAS opened at $225.79 on Monday. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $228.12. The firm has a market capitalization of $91.06 billion, a P/E ratio of 57.02, a P/E/G ratio of 4.45 and a beta of 1.32. The firm has a 50-day moving average price of $212.76 and a 200 day moving average price of $199.24. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last posted its quarterly 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. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 EPS. Sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTAS. Royal Bank of Canada lifted their target price 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. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Truist Financial boosted their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $199.63.

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.