Truvestments Capital LLC Acquires Shares of 288 Cintas Co. (NASDAQ:CTAS)

Truvestments Capital LLC acquired a new position in Cintas Co. (NASDAQ:CTAS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 288 shares of the business services provider’s stock, valued at approximately $59,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atria Investments Inc boosted its stake in Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after purchasing an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning raised its position in shares of Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares during the last quarter. Western Financial Corp CA raised its position in shares of Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after acquiring an additional 10,177 shares during the last quarter. Finally, Portside Wealth Group LLC raised its position in shares of Cintas by 361.9% during the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock worth $287,000 after acquiring an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $224.05 on Thursday. The stock has a 50 day moving average price of $211.92 and a 200 day moving average price of $198.32. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $228.12. 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 stock has a market capitalization of $90.36 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CTAS shares. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Jefferies Financial Group lowered their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Robert W. Baird increased their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.