M Holdings Securities Inc. bought a new position in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 844 shares of the business services provider’s stock, valued at approximately $359,000.
Several other large investors have also added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its holdings in Cintas by 1.6% during the first quarter. Neuberger Berman Group LLC now owns 166,764 shares of the business services provider’s stock worth $70,933,000 after purchasing an additional 2,568 shares during the last quarter. Toroso Investments LLC boosted its holdings in Cintas by 13.3% during the first quarter. Toroso Investments LLC now owns 1,845 shares of the business services provider’s stock worth $785,000 after purchasing an additional 216 shares during the last quarter. Magnolia Wealth Management LLC acquired a new position in Cintas during the first quarter worth $1,876,000. Nomura Holdings Inc. boosted its holdings in Cintas by 21.9% during the first quarter. Nomura Holdings Inc. now owns 4,831 shares of the business services provider’s stock worth $2,046,000 after purchasing an additional 868 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Cintas during the first quarter worth $6,743,000. Institutional investors and hedge funds own 76.66% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Cintas from $517.00 to $465.00 and set a “buy” rating on the stock in a research report on Tuesday, July 5th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Saturday, July 23rd. Barclays dropped their price target on shares of Cintas from $500.00 to $435.00 in a research report on Friday, July 15th. Royal Bank of Canada dropped their price target on shares of Cintas from $475.00 to $450.00 in a research report on Friday, July 15th. Finally, Wells Fargo & Company started coverage on shares of Cintas in a research report on Tuesday, July 12th. They set an “equal weight” rating and a $393.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cintas has an average rating of “Moderate Buy” and a consensus target price of $435.89.
Cintas Trading Up 1.4 %
Cintas (NASDAQ:CTAS – Get Rating) last released its quarterly earnings results on Thursday, July 14th. The business services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. Cintas had a net margin of 15.73% and a return on equity of 35.81%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company posted $2.47 earnings per share. Cintas’s revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cintas Co. will post 12.14 earnings per share for the current year.
Cintas Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.14%. This is an increase from Cintas’s previous quarterly dividend of $0.95. The ex-dividend date was Friday, August 12th. Cintas’s dividend payout ratio is presently 39.49%.
Cintas Corporation provides 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.
- Get a free copy of the StockNews.com research report on Cintas (CTAS)
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