ING Groep NV bought a new stake in Cintas Co. (NASDAQ:CTAS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,073 shares of the business services provider’s stock, valued at approximately $4,960,000.
A number of other large investors have also bought and sold shares of the business. MainStreet Investment Advisors LLC grew its stake in Cintas by 3.2% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 8,427 shares of the business services provider’s stock worth $1,560,000 after purchasing an additional 265 shares in the last quarter. Quad Cities Investment Group LLC grew its stake in Cintas by 17.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 2,045 shares of the business services provider’s stock worth $408,000 after purchasing an additional 300 shares in the last quarter. BB&T Corp grew its stake in Cintas by 9.9% during the 2nd quarter. BB&T Corp now owns 3,544 shares of the business services provider’s stock worth $655,000 after purchasing an additional 318 shares in the last quarter. Asset Advisors Corp grew its stake in Cintas by 0.7% during the 2nd quarter. Asset Advisors Corp now owns 47,000 shares of the business services provider’s stock worth $8,698,000 after purchasing an additional 330 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in Cintas by 4.7% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 7,431 shares of the business services provider’s stock worth $1,375,000 after purchasing an additional 331 shares in the last quarter. Institutional investors own 67.03% of the company’s stock.
Several research firms recently commented on CTAS. Barclays boosted their target price on Cintas from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 20th. Robert W. Baird set a $235.00 price objective on Cintas and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Stifel Nicolaus upped their price objective on Cintas from $162.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, July 20th. Nomura reaffirmed a “hold” rating and set a $188.00 price objective on shares of Cintas in a research report on Sunday, July 22nd. Finally, Morgan Stanley upped their price objective on Cintas from $152.00 to $158.00 and gave the stock a “$192.53” rating in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $196.33.
NASDAQ:CTAS opened at $178.13 on Wednesday. The stock has a market cap of $18.90 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03. Cintas Co. has a 1 year low of $146.56 and a 1 year high of $217.34. 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 released its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Cintas had a return on equity of 24.13% and a net margin of 12.72%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 EPS. As a group, research analysts forecast that Cintas Co. will post 7.24 earnings per share for the current year.
The company also recently announced an annual dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be given a $2.05 dividend. The ex-dividend date is Thursday, November 8th. This is a boost from Cintas’s previous annual dividend of $1.62. This represents a dividend yield of 1.13%. Cintas’s dividend payout ratio is 34.51%.
Cintas Company Profile
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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