Handelsbanken Fonder AB Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Handelsbanken Fonder AB increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 26.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 134,814 shares of the business services provider’s stock after acquiring an additional 28,492 shares during the period. Handelsbanken Fonder AB’s holdings in Cintas were worth $24,631,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its position in Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management increased its stake in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares in the last quarter. Addison Advisors LLC raised its position in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Cintas in the 4th quarter valued at about $27,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in Cintas by 321.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider’s stock worth $33,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. UBS Group decreased their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial lowered their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Wells Fargo & Company lowered their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $198.46.

Cintas Trading Down 1.1 %

Shares of Cintas stock opened at $205.93 on Friday. The stock has a 50 day moving average of $196.67 and a 200 day moving average of $207.94. 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 firm has a market capitalization of $83.10 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 3.93 and a beta of 1.38. Cintas Co. has a fifty-two week low of $153.45 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.61 EPS. As a group, research analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business 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 $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio is currently 37.61%.

About Cintas

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.