Bank of Montreal Can Purchases 404,332 Shares of Cintas Co. (NASDAQ:CTAS)

Bank of Montreal Can raised its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 288.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 544,680 shares of the business services provider's stock after purchasing an additional 404,332 shares during the quarter. Bank of Montreal Can owned about 0.14% of Cintas worth $110,216,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Impax Asset Management Group plc increased its stake in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider's stock worth $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of Cintas by 293.2% in the third quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider's stock worth $392,056,000 after acquiring an additional 1,419,975 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cintas by 258.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider's stock valued at $390,127,000 after acquiring an additional 1,365,825 shares during the period. Alecta Tjanstepension Omsesidigt lifted its position in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider's stock valued at $335,552,000 after acquiring an additional 1,222,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Cintas by 299.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider's stock valued at $264,870,000 after acquiring an additional 964,698 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley upped their price target on Cintas from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, September 26th. Royal Bank of Canada increased their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They set a "neutral" rating and a $167.50 price objective on the stock. Robert W. Baird increased their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company boosted 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $199.63.

Cintas Stock Performance

CTAS traded up $0.29 during midday trading on Wednesday, reaching $226.76. The company's stock had a trading volume of 39,926 shares, compared to its average volume of 1,445,497. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12. The stock has a market cap of $91.45 billion, a P/E ratio of 57.19, a PEG ratio of 4.41 and a beta of 1.32. The company has a fifty day simple moving average of $211.47 and a 200 day simple moving average of $198.14. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 16.80% and a return on equity of 39.56%. Cintas's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.70 earnings per share. Research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. Cintas's dividend payout ratio (DPR) is currently 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.