Intech Investment Management LLC Purchases 115,378 Shares of Cintas Co. (NASDAQ:CTAS)

Intech Investment Management LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 1,173.0% in the third quarter, HoldingsChannel.com reports. The fund owned 125,214 shares of the business services provider’s stock after purchasing an additional 115,378 shares during the period. Intech Investment Management LLC’s holdings in Cintas were worth $25,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC grew its stake 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 worth $26,000 after acquiring an additional 28 shares during the period. Financial Management Professionals Inc. grew its stake in shares of Cintas by 341.4% in 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 grew its stake in shares of Cintas by 433.3% in the third 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. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the second quarter worth approximately $27,000. Finally, Addison Advisors LLC grew its stake in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several recent research reports. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Truist Financial boosted 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. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group cut their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Up 0.4 %

Shares of CTAS opened at $218.75 on Thursday. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $227.35. The company has a market cap of $88.22 billion, a P/E ratio of 55.24, a P/E/G ratio of 4.29 and a beta of 1.32. 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 company’s fifty day simple moving average is $210.05 and its 200-day simple moving average is $196.56.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating 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 business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm posted $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts expect that Cintas Co. will post 4.23 EPS 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 annualized dividend and a dividend yield of 0.71%. The ex-dividend date 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.