Cintas Co. (NASDAQ:CTAS) Shares Acquired by Aberdeen Wealth Management LLC

Aberdeen Wealth Management LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 290.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,080 shares of the business services provider's stock after acquiring an additional 3,035 shares during the period. Aberdeen Wealth Management LLC's holdings in Cintas were worth $840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Atria Investments Inc increased its stake in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider's stock valued at $4,595,000 after purchasing an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock valued at $22,976,000 after buying an additional 86,460 shares in the last quarter. Creative Planning raised its stake in shares of Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider's stock worth $13,551,000 after buying an additional 4,957 shares during the last quarter. Western Financial Corp CA boosted its position in shares of Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider's stock worth $2,429,000 after buying an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC grew its stake in Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider's stock valued at $287,000 after acquiring an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CTAS. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a report on Thursday, September 26th. Morgan Stanley upped their target price on Cintas from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, September 26th. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research 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 research report on Tuesday, September 17th. Finally, Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a research report 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 assigned a buy rating to the company's stock. According to data from MarketBeat, Cintas has an average rating of "Hold" and a consensus target price of $199.63.

Cintas Trading Up 0.8 %

NASDAQ:CTAS traded up $1.77 during trading hours on Tuesday, reaching $217.97. 1,231,473 shares of the company were exchanged, compared to its average volume of 1,450,172. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. The stock has a 50 day simple moving average of $221.79 and a 200 day simple moving average of $196.06. The firm has a market cap of $87.91 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 4.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its 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. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $3.70 EPS. As a group, analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has approved a stock repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Cintas Announces Dividend

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

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.