Morse Asset Management Inc Buys 15,919 Shares of Cintas Co. (NASDAQ:CTAS)

Morse Asset Management Inc boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 299.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,229 shares of the business services provider’s stock after acquiring an additional 15,919 shares during the quarter. Cintas comprises about 0.9% of Morse Asset Management Inc’s investment portfolio, making the stock its 29th biggest position. Morse Asset Management Inc’s holdings in Cintas were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC grew its stake in Cintas by 168.1% in the third quarter. Virtu Financial LLC now owns 14,468 shares of the business services provider’s stock worth $2,979,000 after purchasing an additional 9,072 shares in the last quarter. Unigestion Holding SA lifted its holdings in shares of Cintas by 503.9% during the 3rd quarter. Unigestion Holding SA now owns 12,380 shares of the business services provider’s stock valued at $2,549,000 after purchasing an additional 10,330 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in Cintas by 316.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 3,504 shares of the business services provider’s stock worth $721,000 after acquiring an additional 2,662 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Cintas by 295.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 885 shares of the business services provider’s stock worth $182,000 after acquiring an additional 661 shares during the last quarter. Finally, Virtue Capital Management LLC raised its stake in Cintas by 208.7% in the 3rd quarter. Virtue Capital Management LLC now owns 1,213 shares of the business services provider’s stock worth $250,000 after acquiring an additional 820 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.4 %

CTAS stock opened at $210.97 on Thursday. The firm has a market cap of $85.08 billion, a PE ratio of 53.28, a PEG ratio of 4.41 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm’s 50 day moving average price is $214.74 and its 200-day moving average price is $201.49. Cintas Co. has a one year low of $138.39 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.70 EPS. On average, equities research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.74%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CTAS shares. Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Robert W. Baird increased their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.63.

Cintas 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.