Prudential PLC Buys 9,741 Shares of Cintas Co. (NASDAQ:CTAS)

Prudential PLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 135.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,952 shares of the business services provider’s stock after acquiring an additional 9,741 shares during the quarter. Prudential PLC’s holdings in Cintas were worth $3,097,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CTAS. Sound Income Strategies LLC bought a new stake in Cintas in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas in the 4th quarter worth $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Cintas in the fourth quarter worth $31,000. IAG Wealth Partners LLC increased its position in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas in the fourth quarter valued at about $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent research reports. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Truist Financial boosted their target price on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. UBS Group boosted their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued 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 $210.58.

Cintas Stock Performance

NASDAQ CTAS opened at $190.33 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The business has a 50-day moving average price of $201.48 and a 200-day moving average price of $204.55. The firm has a market cap of $76.81 billion, a price-to-earnings ratio of 45.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.84 EPS. As a group, equities research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s payout ratio is currently 36.11%.

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.