UMB Bank n.a. boosted its position in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 293.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,355 shares of the business services provider’s stock after purchasing an additional 55,462 shares during the period. UMB Bank n.a. owned about 0.07% of Cintas worth $15,308,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. SG Americas Securities LLC grew its position in Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after acquiring an additional 486,500 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Cintas by 123.1% during the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Cintas in the first quarter valued at $84,646,000. Vanguard Group Inc. raised its holdings in shares of Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock valued at $6,206,969,000 after buying an additional 112,361 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its position in Cintas by 124.9% during the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock worth $134,318,000 after buying an additional 108,582 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CTAS has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Stifel Nicolaus boosted their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Finally, Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $199.63.
Cintas Trading Down 0.9 %
Cintas stock traded down $1.96 during midday trading on Thursday, hitting $207.18. 295,081 shares of the stock were exchanged, compared to its average volume of 1,480,689. The stock has a market capitalization of $21.02 billion, a PE ratio of 14.44, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a fifty day simple moving average of $211.32 and a two-hundred day simple moving average of $186.85. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $211.57.
Cintas (NASDAQ:CTAS – Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Cintas Co. will post 4.16 EPS for the current fiscal year.
Cintas Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is currently 10.77%.
Cintas declared that its Board of Directors has authorized a share buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Insider Transactions at Cintas
In related news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.10% of the stock is currently owned by insiders.
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.
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