Cintas Co. (NASDAQ:CTAS) Shares Bought by Aigen Investment Management LP

Aigen Investment Management LP lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 46.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,240 shares of the business services provider’s stock after purchasing an additional 395 shares during the period. Aigen Investment Management LP’s holdings in Cintas were worth $255,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CTAS. LGT Financial Advisors LLC raised its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Financial Management Professionals Inc. raised its stake in Cintas by 341.4% in 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 lifted its holdings in Cintas by 433.3% in 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 in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the 2nd quarter worth about $27,000. Finally, Addison Advisors LLC grew its holdings in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on CTAS shares. Truist Financial raised their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 0.7 %

Shares of NASDAQ CTAS opened at $215.20 on Friday. The stock has a fifty day moving average price of $221.09 and a 200 day moving average price of $194.94. The company has a market cap of $86.79 billion, a P/E ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $3.70 EPS. Research analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. 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 0.72%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Cintas announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are typically 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.