Legacy Investment Solutions LLC Purchases New Holdings in Cintas Co. (NASDAQ:CTAS)

Legacy Investment Solutions LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 216 shares of the business services provider’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTAS. Capital Investment Advisors LLC lifted its stake in Cintas by 3.8% in the second quarter. Capital Investment Advisors LLC now owns 573 shares of the business services provider’s stock valued at $401,000 after acquiring an additional 21 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Cintas by 19.8% during the 2nd quarter. SG Americas Securities LLC now owns 14,733 shares of the business services provider’s stock worth $10,317,000 after purchasing an additional 2,439 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in Cintas by 329.0% in the 2nd quarter. Gateway Investment Advisers LLC now owns 1,300 shares of the business services provider’s stock valued at $910,000 after purchasing an additional 997 shares during the last quarter. Czech National Bank grew its holdings in Cintas by 8.4% during the second quarter. Czech National Bank now owns 16,434 shares of the business services provider’s stock worth $11,508,000 after purchasing an additional 1,274 shares during the period. Finally, Coastline Trust Co bought a new position in Cintas during the second quarter worth about $252,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several research analyst reports. UBS Group upped their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. 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. Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada increased their price objective 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, Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 0.2 %

Shares of CTAS opened at $223.71 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $228.12. The stock has a market capitalization of $90.22 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 4.40 and a beta of 1.33. The stock has a fifty day moving average of $214.57 and a 200-day moving average of $200.79.

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

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

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.