Cintas Co. (NASDAQ:CTAS) Stock Position Raised by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 187.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,280 shares of the business services provider’s stock after purchasing an additional 45,806 shares during the period. Cintas accounts for about 1.8% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 20th largest position. Cabot Wealth Management Inc. owned approximately 0.07% of Cintas worth $14,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CTAS. SG Americas Securities LLC increased its holdings in shares of Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after acquiring an additional 201,955 shares during the last quarter. Swedbank AB increased its holdings in shares of Cintas by 308.3% during the 3rd quarter. Swedbank AB now owns 221,336 shares of the business services provider’s stock valued at $45,569,000 after acquiring an additional 167,123 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Cintas in the 1st quarter valued at approximately $84,646,000. Finally, Congress Asset Management Co. MA grew its holdings in Cintas by 124.9% in the 1st quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock valued at $134,318,000 after buying an additional 108,582 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CTAS shares. Royal Bank of Canada raised their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Baird R W lowered Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Truist Financial raised their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group raised their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $199.63.

Insider Buying and Selling at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.10% of the company’s stock.

Cintas Trading Down 0.4 %

NASDAQ:CTAS traded down $0.80 on Tuesday, reaching $210.70. The company’s stock had a trading volume of 1,317,080 shares, compared to its average volume of 1,480,124. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $213.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a market cap of $21.38 billion, a PE ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. The business’s 50-day moving average price is $212.54 and its two-hundred day moving average price is $187.92.

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

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. Cintas’s payout ratio is 10.77%.

Cintas announced that its Board of Directors has approved a share 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.