Invesco Ltd. Has $935.15 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Invesco Ltd. increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 5,118,479 shares of the business services provider’s stock after purchasing an additional 296,059 shares during the quarter. Invesco Ltd.’s holdings in Cintas were worth $935,146,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Advisors LLC grew its position in Cintas by 3.1% during the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after buying an additional 52 shares in the last quarter. MGB Wealth Management LLC grew its holdings in Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock worth $1,328,000 after acquiring an additional 52 shares during the last quarter. TIAA Trust National Association grew its position in shares of Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after buying an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC lifted its position in shares of Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after purchasing an additional 52 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its position in shares of Cintas by 2.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock valued at $512,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 7.1 %

NASDAQ CTAS opened at $190.33 on Monday. The company has a fifty day simple moving average of $201.48 and a two-hundred day simple moving average of $204.57. The stock has a market cap of $76.81 billion, a P/E ratio of 45.89, a P/E/G ratio of 3.98 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the business posted $3.84 EPS. Cintas’s revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTAS. Citigroup started coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Morgan Stanley upped their target price on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Finally, UBS Group lifted their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $210.58.

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.