Empower Advisory Group LLC Has $353,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Empower Advisory Group LLC lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 297.2% during the third quarter, Holdings Channel.com reports. The firm owned 1,716 shares of the business services provider’s stock after buying an additional 1,284 shares during the period. Empower Advisory Group LLC’s holdings in Cintas were worth $353,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CTAS. Allspring Global Investments Holdings LLC boosted its position in 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 valued at $22,976,000 after buying an additional 86,460 shares during the last quarter. Atria Investments Inc boosted its holdings in Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after acquiring an additional 16,623 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 purchasing an additional 4,957 shares during the period. Western Financial Corp CA raised its holdings in Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after purchasing an additional 10,177 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in Cintas by 361.9% during the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after purchasing an additional 1,093 shares during the period. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTAS has been the subject of a number of recent research reports. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Robert W. Baird increased their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada increased their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

NASDAQ CTAS opened at $217.05 on Friday. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The firm’s 50 day moving average is $220.75 and its 200-day moving average is $194.79. The company has a market capitalization of $87.54 billion, a PE ratio of 54.81, a price-to-earnings-growth ratio of 4.43 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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 $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

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

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.