Alesco Advisors LLC Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Alesco Advisors LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,240 shares of the business services provider’s stock after acquiring an additional 930 shares during the quarter. Alesco Advisors LLC’s holdings in Cintas were worth $255,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Impax Asset Management Group plc raised its stake in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after acquiring an additional 1,648,350 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of Cintas by 293.2% in the third quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after purchasing an additional 1,419,975 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Cintas by 258.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after purchasing an additional 1,365,825 shares during the last quarter. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Cintas by 299.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock valued at $264,870,000 after buying an additional 964,698 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.1 %

CTAS opened at $221.76 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $227.35. The company has a market cap of $89.44 billion, a PE ratio of 56.00, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. The company has a 50-day moving average price of $210.64 and a 200 day moving average price of $197.09.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (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 business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.70 earnings per share. Sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on CTAS. Morgan Stanley lifted their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays boosted their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $199.63.

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.