Cintas Co. (NASDAQ:CTAS) Shares Acquired by Aigen Investment Management LP

Aigen Investment Management LP raised its stake in Cintas Co. (NASDAQ:CTAS) by 46.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,240 shares of the business services provider’s stock after buying an additional 395 shares during the quarter. Aigen Investment Management LP’s holdings in Cintas were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in CTAS. Impax Asset Management Group plc grew its stake in Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares during the period. Los Angeles Capital Management LLC lifted its position in Cintas by 211.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock valued at $234,826,000 after purchasing an additional 774,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Cintas by 291.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after purchasing an additional 662,431 shares during the period. Finally, Congress Asset Management Co. grew its position in Cintas by 295.6% in the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after purchasing an additional 586,271 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Robert W. Baird increased their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 0.7 %

CTAS stock opened at $215.20 on Friday. The company’s 50 day simple moving average is $221.09 and its 200-day simple moving average is $194.94. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32.

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

Cintas announced that its board has approved a stock repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.