Bank of Montreal Can Has $110.22 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Bank of Montreal Can boosted its stake in Cintas Co. (NASDAQ:CTAS) by 288.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 544,680 shares of the business services provider’s stock after purchasing an additional 404,332 shares during the quarter. Bank of Montreal Can owned about 0.14% of Cintas worth $110,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC raised its position in shares of 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 buying an additional 28 shares in the last quarter. Financial Management Professionals Inc. raised its position in Cintas by 341.4% during the third 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 in the last quarter. Hollencrest Capital Management lifted its stake in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the 2nd quarter valued at $27,000. Finally, Addison Advisors LLC increased its stake in shares of Cintas by 495.7% in 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.

Cintas Trading Up 1.1 %

CTAS opened at $226.47 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $211.47 and a 200-day moving average of $198.14. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12. The stock has a market cap of $91.34 billion, a PE ratio of 57.19, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The company 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 firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.70 EPS. On average, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently announced 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 of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas’s payout ratio is presently 39.39%.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent analyst reports. UBS Group upped their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird boosted their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Two 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.