Lord Abbett & CO. LLC Makes New $23.78 Million Investment in Cintas Co. (NASDAQ:CTAS)

Lord Abbett & CO. LLC acquired a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 115,500 shares of the business services provider’s stock, valued at approximately $23,779,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC grew its stake in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. boosted its holdings in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management grew its position in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares during the period. Addison Advisors LLC increased its stake in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS opened at $211.22 on Monday. The firm has a market cap of $85.18 billion, a PE ratio of 53.34, a P/E/G ratio of 4.15 and a beta of 1.33. Cintas Co. has a 1-year low of $138.39 and a 1-year high of $228.12. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $215.13 and a two-hundred day simple moving average of $202.40.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. On average, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.74%. Cintas’s dividend payout ratio (DPR) is 39.39%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CTAS shares. Barclays upped their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. 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. The Goldman Sachs Group increased their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird raised their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, UBS Group upped their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $200.77.

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.