Cintas Co. (NASDAQ:CTAS) Shares Acquired by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA lifted its stake in Cintas Co. (NASDAQ:CTAS) by 322.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,642 shares of the business services provider’s stock after purchasing an additional 3,542 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Cintas were worth $956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its holdings in shares of Cintas by 288.2% during the 3rd quarter. MetLife Investment Management LLC now owns 104,086 shares of the business services provider’s stock worth $21,429,000 after buying an additional 77,272 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of Cintas by 350.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 15,375 shares of the business services provider’s stock worth $3,165,000 after purchasing an additional 11,959 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Cintas by 355.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 374,624 shares of the business services provider’s stock worth $77,128,000 after buying an additional 292,310 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Cintas by 295.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 34,351 shares of the business services provider’s stock valued at $7,072,000 after acquiring an additional 25,675 shares during the period. Finally, Freedom Investment Management Inc. boosted its position in shares of Cintas by 281.4% during the 3rd quarter. Freedom Investment Management Inc. now owns 5,508 shares of the business services provider’s stock worth $1,134,000 after purchasing an additional 4,064 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 0.1 %

NASDAQ:CTAS traded up $0.29 during midday trading on Wednesday, hitting $226.76. 39,926 shares of the company were exchanged, compared to its average volume of 1,445,497. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $228.12. The company has a market capitalization of $91.45 billion, a PE ratio of 57.19, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32. The company has a fifty day simple moving average of $211.47 and a 200 day simple moving average of $198.14.

Cintas (NASDAQ:CTAS) last posted 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. The business 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 in the previous year, the business earned $3.70 EPS. As a group, equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued 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 dividend yield of 0.69%. Cintas’s payout ratio is 39.39%.

Analyst Ratings Changes

Several research firms recently issued reports on CTAS. Wells Fargo & Company boosted 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. Robert W. Baird increased their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Barclays boosted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Morgan Stanley lifted their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. 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 company. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $199.63.

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.