Cintas Co. (NASDAQ:CTAS) Position Increased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 271.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,859 shares of the business services provider’s stock after purchasing an additional 3,552 shares during the period. TrinityPoint Wealth LLC’s holdings in Cintas were worth $1,000,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc grew its position in shares of Cintas by 211.1% during the third 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. Alecta Tjanstepension Omsesidigt grew its position 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 acquiring an additional 1,222,500 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Cintas by 211.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after acquiring an additional 774,551 shares during the last quarter. Swiss National Bank grew its position in shares of Cintas by 301.0% during the third quarter. Swiss National Bank now owns 1,084,400 shares of the business services provider’s stock worth $223,256,000 after acquiring an additional 814,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Cintas by 291.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock worth $183,110,000 after acquiring an additional 662,431 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird upped their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

CTAS stock opened at $216.20 on Tuesday. 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 one year low of $136.50 and a one year high of $227.35. The firm has a market capitalization of $87.19 billion, a PE ratio of 54.60, a P/E/G ratio of 4.24 and a beta of 1.32. The firm has a 50-day moving average of $221.79 and a two-hundred day moving average of $196.06.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.70 earnings per share. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current 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 is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s dividend payout ratio is 39.39%.

Cintas declared that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors 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.