Cintas Co. (NASDAQ:CTAS) Shares Acquired by United Asset Strategies Inc.

United Asset Strategies Inc. raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 282.2% in the third quarter, HoldingsChannel reports. The firm owned 10,006 shares of the business services provider’s stock after acquiring an additional 7,388 shares during the period. United Asset Strategies Inc.’s holdings in Cintas were worth $2,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. AustralianSuper Pty Ltd raised its holdings in shares of Cintas by 276.2% during the third quarter. AustralianSuper Pty Ltd now owns 52,864 shares of the business services provider’s stock valued at $10,884,000 after buying an additional 38,812 shares during the last quarter. US Bancorp DE increased its position in Cintas by 293.2% in the 3rd quarter. US Bancorp DE now owns 222,399 shares of the business services provider’s stock valued at $45,790,000 after acquiring an additional 165,837 shares during the period. Congress Asset Management Co. raised its stake in Cintas by 295.6% during the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after acquiring an additional 586,271 shares in the last quarter. Petra Financial Advisors Inc. acquired a new position in Cintas during the 3rd quarter worth $643,000. Finally, HM Payson & Co. grew its stake in shares of Cintas by 195.9% in the third quarter. HM Payson & Co. now owns 3,048 shares of the business services provider’s stock worth $628,000 after purchasing an additional 2,018 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CTAS. Barclays lifted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Truist Financial boosted their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus upped their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. UBS Group raised their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group upped their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 0.7 %

Shares of NASDAQ CTAS traded down $1.40 during mid-day trading on Thursday, hitting $206.45. 193,018 shares of the company traded hands, compared to its average volume of 1,451,392. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1 year low of $125.62 and a 1 year high of $215.37. The stock has a market capitalization of $20.95 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 4.12 and a beta of 1.32. The business has a 50 day moving average of $217.38 and a two-hundred day moving average of $191.29.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm earned $3.70 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is 10.77%.

Cintas announced that its board has initiated a share buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.