MGB Wealth Management LLC Has $1.47 Million Stake in Cintas Co. (NASDAQ:CTAS)

MGB Wealth Management LLC increased its position in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,196 shares of the business services provider’s stock after purchasing an additional 5,397 shares during the quarter. MGB Wealth Management LLC’s holdings in Cintas were worth $1,470,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTAS. Swedbank AB lifted its stake in Cintas by 308.3% during the third quarter. Swedbank AB now owns 221,336 shares of the business services provider’s stock worth $45,569,000 after purchasing an additional 167,123 shares during the period. Pitcairn Co. lifted its position in shares of Cintas by 224.3% during the 3rd quarter. Pitcairn Co. now owns 29,490 shares of the business services provider’s stock worth $6,071,000 after buying an additional 20,397 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of Cintas by 389.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 4,874 shares of the business services provider’s stock worth $1,003,000 after buying an additional 3,878 shares during the period. Alesco Advisors LLC boosted its stake in Cintas by 300.0% in the 3rd quarter. Alesco Advisors LLC now owns 1,240 shares of the business services provider’s stock valued at $255,000 after buying an additional 930 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Cintas by 464.8% in the third quarter. Cerity Partners LLC now owns 233,472 shares of the business services provider’s stock valued at $48,067,000 after acquiring an additional 192,132 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, UBS Group raised 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 analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

CTAS opened at $221.76 on Friday. Cintas Co. has a one year low of $136.87 and a one year 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 company’s 50 day simple moving average is $210.64 and its 200-day simple moving average is $197.26. The stock has a market capitalization of $89.44 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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 net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

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