AMG National Trust Bank Grows Stake in Cintas Co. (NASDAQ:CTAS)

AMG National Trust Bank boosted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 298.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,584 shares of the business services provider's stock after buying an additional 9,426 shares during the quarter. AMG National Trust Bank's holdings in Cintas were worth $2,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC lifted its stake in Cintas by 271.8% in the third quarter. TrinityPoint Wealth LLC now owns 4,859 shares of the business services provider's stock valued at $1,000,000 after purchasing an additional 3,552 shares during the last quarter. Swiss National Bank grew its stake in shares of Cintas by 301.0% during the 3rd quarter. Swiss National Bank now owns 1,084,400 shares of the business services provider's stock worth $223,256,000 after acquiring an additional 814,000 shares during the period. S&CO Inc. increased its holdings in Cintas by 200.0% in the 3rd quarter. S&CO Inc. now owns 2,400 shares of the business services provider's stock worth $494,000 after acquiring an additional 1,600 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Cintas by 331.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,970 shares of the business services provider's stock valued at $4,317,000 after acquiring an additional 16,107 shares during the period. Finally, Claro Advisors LLC bought a new position in Cintas during the third quarter worth about $251,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the topic of several research reports. Jefferies Financial Group lowered their price target on shares of Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price target for the company. Morgan Stanley increased their price objective on Cintas from $170.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, UBS Group boosted their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Two investment 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, the company has a consensus rating of "Hold" and a consensus target price of $199.63.

Cintas Trading Up 0.9 %

Shares of CTAS stock traded up $1.98 on Tuesday, hitting $218.18. 529,097 shares of the company's stock traded hands, compared to its average volume of 1,446,910. The stock has a market capitalization of $87.99 billion, a price-to-earnings ratio of 54.92, a P/E/G ratio of 4.24 and a beta of 1.32. The company's fifty day simple moving average is $221.79 and its 200 day simple moving average is $196.06. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the firm earned $3.70 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

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

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership 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.