Cerity Partners LLC Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Cerity Partners LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 464.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 233,472 shares of the business services provider’s stock after acquiring an additional 192,132 shares during the quarter. Cerity Partners LLC’s holdings in Cintas were worth $48,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CTAS. Impax Asset Management Group plc lifted its stake in shares of Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp lifted its stake in shares of Cintas by 293.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after purchasing an additional 1,419,975 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cintas by 258.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock valued at $390,127,000 after purchasing an additional 1,365,825 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its stake in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Cintas by 299.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock valued at $264,870,000 after purchasing an additional 964,698 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTAS has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. 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. Truist Financial boosted 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. The Goldman Sachs Group boosted 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. Finally, UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” 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 issued a buy rating to the stock. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of CTAS opened at $221.76 on Friday. Cintas Co. has a 52-week low of $136.87 and a 52-week high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $89.44 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 4.36 and a beta of 1.32. The business’s 50 day moving average is $210.64 and its two-hundred day moving average is $197.26.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $3.70 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. Cintas’s payout ratio is currently 39.39%.

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.