Prime Capital Investment Advisors LLC Boosts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Prime Capital Investment Advisors LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 278.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,227 shares of the business services provider’s stock after buying an additional 8,261 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Cintas were worth $2,311,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Impax Asset Management Group plc increased its stake in Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt boosted its holdings in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Cintas by 211.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after purchasing an additional 774,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Cintas by 291.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock worth $183,110,000 after purchasing an additional 662,431 shares during the last quarter. Finally, Congress Asset Management Co. boosted its holdings in shares of Cintas by 295.6% during the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after purchasing an additional 586,271 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 0.5 %

Shares of NASDAQ CTAS opened at $223.62 on Thursday. The firm has a market cap of $90.19 billion, a price-to-earnings ratio of 56.47, a PEG ratio of 4.43 and a beta of 1.32. 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 $135.07 and a 52-week high of $227.35. The business’s 50 day moving average is $220.30 and its two-hundred day moving average is $194.58.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has authorized a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on CTAS shares. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Morgan Stanley upped their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Truist Financial upped their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $199.63.

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.