Atria Wealth Solutions Inc. Acquires 982 Shares of Cintas Co. (NASDAQ:CTAS)

Atria Wealth Solutions Inc. grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 30.3% in the fourth quarter, HoldingsChannel reports. The fund owned 4,223 shares of the business services provider’s stock after acquiring an additional 982 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cintas were worth $2,545,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CTAS. Invesco Ltd. boosted its position in Cintas by 17.4% during the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after acquiring an additional 151,783 shares during the last quarter. American Century Companies Inc. boosted its position in Cintas by 40.7% during the 3rd quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock worth $235,009,000 after acquiring an additional 141,375 shares during the last quarter. FMR LLC boosted its position in Cintas by 5.5% during the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after acquiring an additional 123,468 shares during the last quarter. Acadian Asset Management LLC boosted its position in Cintas by 257.8% during the 3rd quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock worth $69,978,000 after acquiring an additional 104,854 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after acquiring an additional 85,662 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 0.1 %

CTAS stock opened at $666.23 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The stock has a market capitalization of $67.54 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 3.90 and a beta of 1.27. The business’s fifty day moving average price is $648.22 and its two-hundred day moving average price is $594.56. Cintas Co. has a fifty-two week low of $440.01 and a fifty-two week high of $704.84.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.14 EPS. On average, equities analysts anticipate that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Truist Financial increased their price objective on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Bank of America increased their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. The Goldman Sachs Group increased their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Barclays increased their price objective on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Six investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $661.21.

Cintas Company Profile

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.