Mizuho Securities USA LLC Purchases 254,607 Shares of Cintas Co. (NASDAQ:CTAS)

Mizuho Securities USA LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 3,834.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,247 shares of the business services provider’s stock after purchasing an additional 254,607 shares during the period. Mizuho Securities USA LLC owned approximately 0.06% of Cintas worth $53,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. LGT Financial Advisors LLC lifted its stake in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new position in Cintas in the second quarter valued at $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the first quarter valued at $29,000. Meeder Asset Management Inc. increased its stake in Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after buying an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC lifted its position in Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $215.20 on Friday. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The company’s 50 day moving average price is $221.49 and its two-hundred day moving average price is $195.28. The firm has a market cap of $86.79 billion, a PE ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32. 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 (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 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 company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $3.70 EPS. Equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas’s payout ratio is 39.39%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Stifel Nicolaus upped their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Morgan Stanley upped their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Barclays boosted their price objective 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. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Cintas 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.