Allspring Global Investments Holdings LLC Buys 13,787 Shares of Cintas Co. (NASDAQ:CTAS)

Allspring Global Investments Holdings LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 123.8% during the fourth quarter, Holdings Channel reports. The fund owned 24,927 shares of the business services provider’s stock after acquiring an additional 13,787 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cintas were worth $15,023,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. International Assets Investment Management LLC acquired a new position in Cintas during the 4th quarter worth $388,630,000. Bleakley Financial Group LLC lifted its position in shares of Cintas by 117.7% during the 4th quarter. Bleakley Financial Group LLC now owns 3,224 shares of the business services provider’s stock worth $1,943,000 after purchasing an additional 1,743 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in Cintas by 2.4% during the 4th quarter. Meeder Advisory Services Inc. now owns 2,833 shares of the business services provider’s stock valued at $1,707,000 after purchasing an additional 67 shares during the period. Peoples Bank OH grew its holdings in Cintas by 26.8% in the 4th quarter. Peoples Bank OH now owns 767 shares of the business services provider’s stock valued at $462,000 after buying an additional 162 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Cintas by 2.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 42,003 shares of the business services provider’s stock worth $25,314,000 after buying an additional 1,149 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 0.6 %

Shares of NASDAQ:CTAS opened at $664.72 on Tuesday. The company’s fifty day moving average is $639.36 and its 200-day moving average is $583.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. The company has a market capitalization of $67.38 billion, a PE ratio of 45.91, a P/E/G ratio of 3.91 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.14 earnings per share. Equities research analysts predict that Cintas Co. will post 14.96 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. Cintas’s dividend payout ratio is 37.29%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTAS. Truist Financial increased their price objective on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Robert W. Baird raised their price target on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer reiterated a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Finally, Royal Bank of Canada upped their price target on Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Cintas has a consensus rating of “Moderate Buy” and an average target price of $661.21.

About Cintas

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.