1,220 Shares in Cintas Co. (NASDAQ:CTAS) Purchased by Claro Advisors LLC

Claro Advisors LLC acquired a new stake in Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,220 shares of the business services provider’s stock, valued at approximately $251,000.

A number of other institutional investors also recently modified their holdings of CTAS. Edgestream Partners L.P. bought a new position in Cintas in the 1st quarter worth approximately $972,000. Bessemer Group Inc. increased its stake in shares of Cintas by 88.8% in the 1st quarter. Bessemer Group Inc. now owns 3,864 shares of the business services provider’s stock valued at $2,656,000 after buying an additional 1,817 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Cintas by 41.1% in the first quarter. Lake Street Advisors Group LLC now owns 515 shares of the business services provider’s stock valued at $354,000 after acquiring an additional 150 shares during the last quarter. Natixis acquired a new stake in Cintas in the first quarter worth about $346,000. Finally, LGT Group Foundation bought a new stake in Cintas during the 1st quarter worth about $170,000. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company upped their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic started coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 0.8 %

Shares of Cintas stock opened at $217.97 on Wednesday. The stock has a market cap of $87.91 billion, a P/E ratio of 55.04, a P/E/G ratio of 4.24 and a beta of 1.32. 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 Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The business’s 50 day moving average is $222.07 and its 200-day moving average is $196.41.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.70 earnings per share. Equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its board has authorized a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s payout ratio is 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.