Independent Advisor Alliance Grows Position in Cintas Co. (NASDAQ:CTAS)

Independent Advisor Alliance boosted its stake in Cintas Co. (NASDAQ:CTAS) by 301.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,937 shares of the business services provider’s stock after purchasing an additional 57,782 shares during the quarter. Cintas comprises 0.6% of Independent Advisor Alliance’s portfolio, making the stock its 29th largest position. Independent Advisor Alliance’s holdings in Cintas were worth $15,840,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd lifted its position in Cintas by 588.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 27,679 shares of the business services provider’s stock valued at $5,698,000 after buying an additional 23,657 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in Cintas by 492.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 17,761 shares of the business services provider’s stock valued at $3,657,000 after buying an additional 14,761 shares in the last quarter. Bank of Hawaii lifted its position in Cintas by 300.0% during the third quarter. Bank of Hawaii now owns 1,800 shares of the business services provider’s stock valued at $371,000 after buying an additional 1,350 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its position in Cintas by 300.0% during the third quarter. Douglass Winthrop Advisors LLC now owns 1,440 shares of the business services provider’s stock valued at $296,000 after buying an additional 1,080 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Cintas by 178.3% during the third quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider’s stock valued at $507,000 after buying an additional 1,576 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. 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 report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 0.1 %

CTAS stock opened at $221.76 on Monday. 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 Co. has a 1-year low of $136.87 and a 1-year high of $227.35. The firm has a fifty day moving average price of $210.64 and a two-hundred day moving average price of $197.43. The firm has a market cap of $89.44 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 4.37 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 earnings per share. Research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The company 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 dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas’s dividend payout ratio is currently 39.39%.

Cintas Company 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.