United Services Automobile Association increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 17.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,755 shares of the business services provider’s stock after buying an additional 8,824 shares during the quarter. United Services Automobile Association owned about 0.06% of Cintas worth $12,018,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CTAS. Fort L.P. bought a new position in Cintas during the 2nd quarter worth $118,000. Polaris Greystone Financial Group LLC bought a new position in Cintas during the 3rd quarter worth $154,000. Piedmont Investment Advisors LLC bought a new position in Cintas during the 2nd quarter worth $181,000. Harvest Fund Management Co. Ltd bought a new position in Cintas during the 3rd quarter worth $184,000. Finally, Ropes Wealth Advisors LLC bought a new position in Cintas during the 2nd quarter worth $185,000. Hedge funds and other institutional investors own 66.37% of the company’s stock.
Several research firms have recently issued reports on CTAS. Morgan Stanley increased their price target on Cintas from $178.00 to $183.00 and gave the stock a “sell” rating in a research note on Wednesday, September 26th. Robert W. Baird set a $235.00 price target on Cintas and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research cut Cintas from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Royal Bank of Canada began coverage on Cintas in a research note on Monday, November 26th. They issued an “outperform” rating for the company. Finally, Barclays increased their price target on Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $202.17.
NASDAQ:CTAS opened at $171.40 on Friday. Cintas Co. has a 1 year low of $147.38 and a 1 year high of $217.34. The firm has a market capitalization of $19.01 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. The company has a quick ratio of 2.65, a current ratio of 3.10 and a debt-to-equity ratio of 0.76.
Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.13. Cintas had a return on equity of 24.13% and a net margin of 12.72%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business posted $1.45 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Cintas Co. will post 7.24 earnings per share for the current year.
The company also recently announced an annual dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 9th were paid a dividend of $2.05 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a yield of 1.13%. This is a boost from Cintas’s previous annual dividend of $1.62. Cintas’s dividend payout ratio (DPR) is currently 34.51%.
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Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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