Alan B Lancz & Associates Inc. Purchases 1,200 Shares of Cintas Co. (NASDAQ:CTAS)

Alan B Lancz & Associates Inc. grew its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,600 shares of the business services provider’s stock after purchasing an additional 1,200 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Cintas were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Checchi Capital Advisers LLC increased its position in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares in the last quarter. Field & Main Bank grew its position in shares of Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 15 shares during the period. Drive Wealth Management LLC increased its stake in shares of Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares during the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 16 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CTAS shares. Robert W. Baird lifted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley lifted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Finally, Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Up 2.8 %

Shares of CTAS opened at $225.72 on Friday. 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 stock has a market capitalization of $91.03 billion, a PE ratio of 57.00, a P/E/G ratio of 4.27 and a beta of 1.32. The firm’s 50 day moving average is $219.35 and its 200-day moving average is $193.39. Cintas Co. has a 12 month low of $131.24 and a 12 month high of $227.24.

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

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas’s dividend payout ratio is 39.39%.

Cintas declared that its board has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.