Nomura Asset Management Co. Ltd. Has $109.22 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Nomura Asset Management Co. Ltd. increased its position in Cintas Co. (NASDAQ:CTAS) by 309.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 530,491 shares of the business services provider’s stock after purchasing an additional 401,003 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Cintas were worth $109,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC lifted its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in Cintas by 341.4% in the 3rd 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 in the last quarter. Hollencrest Capital Management boosted its position in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the period. Addison Advisors LLC grew its stake in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in shares of Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays raised their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, UBS Group lifted their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

Shares of Cintas stock opened at $223.71 on Monday. The stock has a market capitalization of $90.22 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 4.40 and a beta of 1.33. Cintas Co. has a 1-year low of $136.87 and a 1-year high of $228.12. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $214.57 and a 200-day simple moving average of $200.97.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.70 EPS. On average, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

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

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.