Bridges Investment Management Inc. Purchases 205,790 Shares of Cintas Co. (NASDAQ:CTAS)

Bridges Investment Management Inc. grew its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 302.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,855 shares of the business services provider's stock after acquiring an additional 205,790 shares during the quarter. Bridges Investment Management Inc. owned 0.07% of Cintas worth $56,381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its position in Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider's stock worth $1,156,000 after acquiring an additional 14 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider's stock worth $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank increased its stake in shares of Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider's stock valued at $53,000 after buying an additional 15 shares during the period. Drive Wealth Management LLC raised its holdings in Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock valued at $314,000 after buying an additional 16 shares during the last quarter. Finally, TIAA Trust National Association boosted its position in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock worth $954,000 after buying an additional 16 shares during the period. Institutional investors own 63.46% of the company's stock.

Cintas Stock Up 2.8 %

Shares of CTAS stock traded up $6.20 on Friday, reaching $225.72. 1,648,330 shares of the company were exchanged, compared to its average volume of 1,128,922. 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 company has a 50-day moving average of $219.35 and a 200-day moving average of $193.39. The company has a market cap of $91.03 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 4.27 and a beta of 1.32. Cintas Co. has a one year low of $131.24 and a one year high of $227.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. The company's quarterly revenue was up 6.8% on a year-over-year basis. Analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has approved a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas's payout ratio is 39.39%.

Analysts Set New Price Targets

Several brokerages have issued reports on CTAS. Morgan Stanley upped their price target on shares of 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 raised their target price on Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. Baird R W downgraded Cintas from a "strong-buy" rating to a "hold" rating in a report on Friday, July 19th. Wells Fargo & Company increased their price target on Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research note on Thursday, September 26th. Finally, UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research note 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's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $199.63.

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.