Vestcor Inc Buys 7,533 Shares of Cintas Co. (NASDAQ:CTAS)

Vestcor Inc grew its stake in Cintas Co. (NASDAQ:CTAS) by 290.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,124 shares of the business services provider’s stock after purchasing an additional 7,533 shares during the quarter. Vestcor Inc’s holdings in Cintas were worth $2,084,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTAS. Wellington Management Group LLP lifted its holdings in Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares during the period. Atria Investments Inc lifted its holdings in Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after acquiring an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after acquiring an additional 86,460 shares during the period. Creative Planning lifted its holdings in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares during the period. Finally, Western Financial Corp CA lifted its holdings in Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after acquiring an additional 10,177 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.9 %

NASDAQ CTAS opened at $210.14 on Wednesday. Cintas Co. has a 1-year low of $138.39 and a 1-year high of $228.12. 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 stock has a 50-day moving average of $214.62 and a 200-day moving average of $201.21. The firm has a market cap of $84.75 billion, a PE ratio of 53.07, a price-to-earnings-growth ratio of 4.41 and a beta of 1.34.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 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 analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.70 EPS. As a group, sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays boosted their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Morgan Stanley boosted their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two investment 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 company presently has an average 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.