Cintas Co. (NASDAQ:CTAS) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 309.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,475 shares of the business services provider’s stock after purchasing an additional 13,958 shares during the quarter. Private Trust Co. NA’s holdings in Cintas were worth $3,804,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Atria Investments Inc lifted its position in shares of Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after buying an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares during the last quarter. Creative Planning increased its position in Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after buying an additional 4,957 shares during the period. Western Financial Corp CA lifted its stake in Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after buying an additional 10,177 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its stake in Cintas by 361.9% in the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after buying an additional 1,093 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 0.1 %

CTAS stock opened at $221.76 on Monday. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35. The stock has a market capitalization of $89.44 billion, a price-to-earnings ratio of 56.00, a P/E/G ratio of 4.37 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The business has a fifty day moving average price of $210.64 and a 200 day moving average price of $197.43.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Analysts Set New Price Targets

CTAS has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Barclays upped 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. Finally, The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average target price of $199.63.

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.