Intech Investment Management LLC Buys 115,378 Shares of Cintas Co. (NASDAQ:CTAS)

Intech Investment Management LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 1,173.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,214 shares of the business services provider’s stock after buying an additional 115,378 shares during the period. Intech Investment Management LLC’s holdings in Cintas were worth $25,779,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTAS. LGT Financial Advisors LLC grew its holdings in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management grew its holdings in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas during the 2nd quarter valued at $27,000. Finally, Addison Advisors LLC grew its holdings in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada increased 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. Wells Fargo & Company increased their price target 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. Redburn Atlantic began coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Morgan Stanley increased their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 0.4 %

Shares of NASDAQ CTAS opened at $218.75 on Thursday. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $227.35. The stock has a market cap of $88.22 billion, a P/E ratio of 55.24, a price-to-earnings-growth ratio of 4.29 and a beta of 1.32. The firm has a 50-day moving average of $210.05 and a 200 day moving average of $196.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the company posted $3.70 EPS. Cintas’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given 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 0.71%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

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.