Pitcairn Co. Increases Stake in Cintas Co. (NASDAQ:CTAS)

Pitcairn Co. increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 224.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,490 shares of the business services provider’s stock after buying an additional 20,397 shares during the period. Pitcairn Co.’s holdings in Cintas were worth $6,071,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Atria Investments Inc increased its stake in shares of Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after buying an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning boosted its position in Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Western Financial Corp CA boosted its position in Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after purchasing an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its position in Cintas by 361.9% during the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after purchasing an additional 1,093 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.1 %

Cintas stock opened at $221.76 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $227.35. The company has a market capitalization of $89.44 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. The stock has a 50-day moving average price of $210.64 and a 200 day moving average price of $197.09.

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 firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The business 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. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Robert W. Baird raised 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. Truist Financial raised their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Redburn Atlantic began 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 raised their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Two 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. Based on data from MarketBeat, Cintas presently has a consensus 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.