Lindbrook Capital LLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Lindbrook Capital LLC lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 296.9% during the third quarter, HoldingsChannel.com reports. The firm owned 2,580 shares of the business services provider’s stock after purchasing an additional 1,930 shares during the quarter. Lindbrook Capital LLC’s holdings in Cintas were worth $531,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its holdings in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Cintas in the second quarter worth $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas in the first quarter worth $29,000. Meeder Asset Management Inc. grew its position in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC increased its stake in Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $225.72 on Friday. The company has a market cap of $91.03 billion, a PE ratio of 57.00, a P/E/G ratio of 4.27 and a beta of 1.32. The business has a 50 day moving average of $219.35 and a 200 day moving average of $193.39. Cintas Co. has a 52 week low of $131.24 and a 52 week high of $227.24. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 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 period last year, the company posted $3.70 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

Cintas declared that its board has initiated a share repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

CTAS has been the subject of several recent analyst reports. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Robert W. Baird upped their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company increased their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. 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 stock has an average rating of “Hold” and a consensus price target of $199.63.

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.