Cintas Co. (NASDAQ:CTAS) is Impax Asset Management Group plc’s 10th Largest Position

Impax Asset Management Group plc boosted its stake in Cintas Co. (NASDAQ:CTAS) by 211.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,429,272 shares of the business services provider’s stock after acquiring an additional 1,648,350 shares during the period. Cintas accounts for about 2.0% of Impax Asset Management Group plc’s holdings, making the stock its 10th biggest position. Impax Asset Management Group plc’s holdings in Cintas were worth $499,236,000 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 CTAS. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cintas by 0.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,152 shares of the business services provider’s stock worth $17,280,000 after purchasing an additional 225 shares during the period. Norden Group LLC lifted its stake in shares of Cintas by 120.9% in the 1st quarter. Norden Group LLC now owns 824 shares of the business services provider’s stock worth $566,000 after acquiring an additional 451 shares during the period. Lincoln National Corp boosted its holdings in shares of Cintas by 1.2% in the first quarter. Lincoln National Corp now owns 3,427 shares of the business services provider’s stock valued at $2,354,000 after acquiring an additional 41 shares in the last quarter. Graypoint LLC increased its stake in shares of Cintas by 8.3% during the first quarter. Graypoint LLC now owns 470 shares of the business services provider’s stock worth $323,000 after acquiring an additional 36 shares during the period. Finally, FORA Capital LLC acquired a new stake in Cintas in the first quarter valued at about $3,013,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 0.4 %

NASDAQ CTAS traded up $0.86 during mid-day trading on Monday, reaching $206.48. 223,821 shares of the stock were exchanged, compared to its average volume of 1,448,585. The stock has a market capitalization of $83.27 billion, a PE ratio of 52.06, a PEG ratio of 4.05 and a beta of 1.32. 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 Co. has a 1-year low of $128.92 and a 1-year high of $215.37. The business’s fifty day simple moving average is $217.75 and its 200 day simple moving average is $192.01.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping 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 firm earned $3.70 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its board has authorized a share buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s payout ratio is currently 39.39%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial increased their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley raised their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company raised their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group lowered their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.