Huntington National Bank Buys 320 Shares of Cintas Co. (NASDAQ:CTAS)

Huntington National Bank boosted its stake in Cintas Co. (NASDAQ:CTAS) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,736 shares of the business services provider’s stock after acquiring an additional 320 shares during the period. Huntington National Bank’s holdings in Cintas were worth $2,144,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTAS. State Street Corp boosted its stake in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after buying an additional 6,235,052 shares during the period. Norges Bank acquired a new stake in shares of Cintas in the 4th quarter valued at about $877,216,000. Franklin Resources Inc. increased its position in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTAS. Morgan Stanley boosted their price objective on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Truist Financial increased their price target on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. Finally, Robert W. Baird increased their target price on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $210.58.

Cintas Stock Down 1.8 %

Cintas stock opened at $204.85 on Friday. The firm has a 50 day moving average price of $201.62 and a 200-day moving average price of $204.64. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The company has a market capitalization of $82.67 billion, a P/E ratio of 49.39, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.84 earnings per share. As a group, equities analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio is currently 36.11%.

About Cintas

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.