Ascent Group LLC Purchases 19,884 Shares of Cintas Co. (NASDAQ:CTAS)

Ascent Group LLC raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 255.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,672 shares of the business services provider’s stock after purchasing an additional 19,884 shares during the period. Ascent Group LLC’s holdings in Cintas were worth $5,697,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quent Capital LLC boosted its stake in shares of Cintas by 71.3% during the second quarter. Quent Capital LLC now owns 173 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 72 shares in the last quarter. CWM LLC boosted its position in Cintas by 7.3% during the 2nd quarter. CWM LLC now owns 5,470 shares of the business services provider’s stock valued at $3,831,000 after acquiring an additional 373 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of Cintas by 5.1% in the 2nd quarter. First Affirmative Financial Network now owns 800 shares of the business services provider’s stock valued at $560,000 after acquiring an additional 39 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Cintas in the 2nd quarter worth $27,000. Finally, Linden Thomas Advisory Services LLC purchased a new stake in shares of Cintas during the 2nd quarter worth $1,292,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

CTAS opened at $225.79 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $228.12. The firm has a 50 day moving average of $212.76 and a two-hundred day moving average of $199.24. The firm has a market capitalization of $91.06 billion, a PE ratio of 57.02, a P/E/G ratio of 4.45 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its earnings results 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 net margin of 16.80% and a return on equity of 39.56%. The firm 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 posted $3.70 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas’s payout ratio is 39.39%.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent research reports. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group upped 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, Truist Financial raised their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $199.63.

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.