Principal Financial Group Inc. Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Principal Financial Group Inc. lifted its position in Cintas Co. (NASDAQ:CTAS) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 514,928 shares of the business services provider’s stock after acquiring an additional 11,406 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Cintas worth $94,077,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CTAS. Creative Planning lifted its holdings in shares of Cintas by 356.6% in the 3rd quarter. Creative Planning now owns 88,354 shares of the business services provider’s stock worth $18,190,000 after acquiring an additional 69,003 shares during the last quarter. Stratos Wealth Advisors LLC lifted its holdings in shares of Cintas by 363.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,446 shares of the business services provider’s stock worth $298,000 after acquiring an additional 1,134 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Cintas by 210.5% in the 3rd quarter. Blue Trust Inc. now owns 1,273 shares of the business services provider’s stock worth $262,000 after acquiring an additional 863 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Cintas by 341.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 2,532 shares of the business services provider’s stock worth $521,000 after acquiring an additional 1,959 shares during the last quarter. Finally, New Century Financial Group LLC bought a new stake in shares of Cintas in the 3rd quarter worth about $224,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.2 %

NASDAQ CTAS opened at $203.74 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company has a market capitalization of $82.22 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. The company’s 50-day simple moving average is $196.96 and its two-hundred day simple moving average is $207.85. Cintas Co. has a one year low of $152.77 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.61 EPS. Equities analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio is presently 37.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CTAS shares. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company decreased their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Morgan Stanley lifted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Truist Financial decreased their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $198.46.

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.