AssuredPartners Investment Advisors LLC Takes $637,000 Position in Cintas Co. (NASDAQ:CTAS)

AssuredPartners Investment Advisors LLC bought a new position in Cintas Co. (NASDAQ:CTAS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,489 shares of the business services provider’s stock, valued at approximately $637,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. State Street Corp raised its holdings in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after buying an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS stock opened at $206.25 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a market capitalization of $83.23 billion, a PE ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The firm’s 50-day moving average is $200.91 and its two-hundred day moving average is $208.87. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.84 earnings per share. Analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s payout ratio is 36.11%.

Analysts Set New Price Targets

CTAS has been the topic of a number of analyst reports. Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Thursday. UBS Group raised their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Truist Financial increased their price target on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $207.57.

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.