Erste Asset Management GmbH Has $69.82 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Erste Asset Management GmbH cut its holdings in Cintas Co. (NASDAQ:CTAS) by 5.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 379,770 shares of the business services provider’s stock after selling 23,688 shares during the quarter. Cintas accounts for about 0.8% of Erste Asset Management GmbH’s portfolio, making the stock its 25th biggest position. Erste Asset Management GmbH’s holdings in Cintas were worth $69,818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Impax Asset Management Group plc boosted its position in shares of Cintas by 211.1% in the third 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. Verdence Capital Advisors LLC lifted its position in Cintas by 295.9% during the third quarter. Verdence Capital Advisors LLC now owns 1,366 shares of the business services provider’s stock worth $281,000 after purchasing an additional 1,021 shares during the period. Assetmark Inc. lifted its position in Cintas by 406.4% during the third quarter. Assetmark Inc. now owns 7,343 shares of the business services provider’s stock worth $1,512,000 after purchasing an additional 5,893 shares during the period. Atria Investments Inc raised its stake 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 in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its stake in Cintas by 370.8% during the third quarter. Mesirow Financial Investment Management Inc. now owns 1,549 shares of the business services provider’s stock worth $319,000 after acquiring an additional 1,220 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTAS shares. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 target price for the company. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, Morgan Stanley boosted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

Shares of CTAS opened at $192.21 on Thursday. Cintas Co. has a 12-month low of $154.83 and a 12-month high of $228.12. The business’s fifty day moving average is $199.71 and its 200 day moving average is $209.24. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $77.57 billion, a P/E ratio of 46.34, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $3.61 EPS. Cintas’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

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.