Valley Wealth Managers Inc. Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Valley Wealth Managers Inc. raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, Holdings Channel reports. The fund owned 320 shares of the business services provider’s stock after acquiring an additional 240 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Cintas were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC grew its position in Cintas by 6.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 5,567 shares of the business services provider’s stock valued at $3,825,000 after buying an additional 341 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Cintas by 1.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 84,856 shares of the business services provider’s stock valued at $58,136,000 after acquiring an additional 1,182 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Cintas by 7.2% during the first quarter. Westfield Capital Management Co. LP now owns 14,277 shares of the business services provider’s stock worth $9,809,000 after acquiring an additional 954 shares during the period. TIAA Trust National Association raised its holdings in Cintas by 12.5% during the first quarter. TIAA Trust National Association now owns 1,347 shares of the business services provider’s stock worth $925,000 after purchasing an additional 150 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Cintas by 30.8% in the first quarter. Acadian Asset Management LLC now owns 320,070 shares of the business services provider’s stock valued at $219,865,000 after purchasing an additional 75,454 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 0.7 %

Shares of NASDAQ CTAS opened at $215.20 on Friday. The firm has a market cap of $86.79 billion, a P/E ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32. The firm’s 50 day moving average price is $221.49 and its 200 day moving average price is $195.28. Cintas Co. has a 1 year low of $136.50 and a 1 year high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

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

Cintas announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of analyst reports. Stifel Nicolaus increased their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Truist Financial raised 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. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. 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 note on Thursday, September 26th. Finally, Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.