United Asset Strategies Inc. Grows Position in Cintas Co. (NASDAQ:CTAS)

United Asset Strategies Inc. grew its stake in Cintas Co. (NASDAQ:CTAS) by 282.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,006 shares of the business services provider’s stock after acquiring an additional 7,388 shares during the quarter. United Asset Strategies Inc.’s holdings in Cintas were worth $2,060,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. AustralianSuper Pty Ltd lifted its holdings in Cintas by 276.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 52,864 shares of the business services provider’s stock valued at $10,884,000 after purchasing an additional 38,812 shares in the last quarter. US Bancorp DE raised its position in shares of Cintas by 293.2% in the third quarter. US Bancorp DE now owns 222,399 shares of the business services provider’s stock valued at $45,790,000 after buying an additional 165,837 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Cintas by 295.6% during the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after buying an additional 586,271 shares during the period. Petra Financial Advisors Inc. acquired a new stake in Cintas during the third quarter worth approximately $643,000. Finally, HM Payson & Co. grew its stake in Cintas by 195.9% in the 3rd quarter. HM Payson & Co. now owns 3,048 shares of the business services provider’s stock worth $628,000 after acquiring an additional 2,018 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial increased their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 0.7 %

Shares of CTAS stock traded down $1.40 during trading hours on Thursday, hitting $206.45. 193,018 shares of the company were exchanged, compared to its average volume of 1,451,392. The stock has a market capitalization of $20.95 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 4.12 and a beta of 1.32. Cintas Co. has a one year low of $125.62 and a one year high of $215.37. The business’s 50-day simple moving average is $217.38 and its two-hundred day simple moving average is $191.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last released its earnings results 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the business posted $3.70 EPS. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The firm 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 dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s payout ratio is 10.77%.

Cintas declared that its Board of Directors has initiated a share buyback program 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 buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Cintas

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.