Prospera Financial Services Inc Acquires 33,782 Shares of Cintas Co. (NASDAQ:CTAS)

Prospera Financial Services Inc boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 3,812.9% in the third quarter, HoldingsChannel reports. The firm owned 34,668 shares of the business services provider’s stock after purchasing an additional 33,782 shares during the period. Prospera Financial Services Inc’s holdings in Cintas were worth $7,137,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Edgestream Partners L.P. bought a new position in shares of Cintas during the 1st quarter worth about $972,000. Bessemer Group Inc. increased its holdings in shares of Cintas by 88.8% during the first quarter. Bessemer Group Inc. now owns 3,864 shares of the business services provider’s stock valued at $2,656,000 after acquiring an additional 1,817 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Cintas by 41.1% during the first quarter. Lake Street Advisors Group LLC now owns 515 shares of the business services provider’s stock worth $354,000 after purchasing an additional 150 shares during the period. Natixis bought a new position in shares of Cintas in the 1st quarter worth $346,000. Finally, LGT Group Foundation acquired a new stake in Cintas in the 1st quarter valued at $170,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. UBS Group lifted their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of CTAS opened at $217.97 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a market cap of $87.91 billion, a PE ratio of 55.04, a PEG ratio of 4.24 and a beta of 1.32. Cintas Co. has a 1 year low of $136.50 and a 1 year high of $227.35. The stock’s fifty day moving average price is $222.07 and its two-hundred day moving average price is $196.41.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s dividend payout ratio is presently 39.39%.

Cintas announced that its board has approved a stock repurchase program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.