B. Metzler seel. Sohn & Co. Holding AG Invests $53.74 Million in Cintas Co. (NASDAQ:CTAS)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 261,019 shares of the business services provider’s stock, valued at approximately $53,739,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.06% of Cintas at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc lifted its position in Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after acquiring an additional 1,648,350 shares during the last quarter. Alecta Tjanstepension Omsesidigt lifted its position in Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after acquiring an additional 1,222,500 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Cintas by 211.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock valued at $234,826,000 after acquiring an additional 774,551 shares during the last quarter. Swiss National Bank lifted its position in Cintas by 301.0% in the third quarter. Swiss National Bank now owns 1,084,400 shares of the business services provider’s stock valued at $223,256,000 after acquiring an additional 814,000 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Cintas by 291.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after acquiring an additional 662,431 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTAS. UBS Group boosted their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Finally, Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two 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 company. Based on data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 0.5 %

Shares of CTAS 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. The firm’s 50-day moving average is $221.79 and its two-hundred day moving average is $196.06. Cintas Co. has a twelve month low of $136.50 and a twelve month high of $227.35. The firm has a market capitalization of $87.19 billion, a P/E ratio of 54.60, a PEG ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. Cintas’s dividend payout ratio is presently 39.39%.

Cintas announced that its board has approved a stock 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are 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.