Congress Asset Management Co. Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Congress Asset Management Co. increased its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 803,874 shares of the business services provider's stock after buying an additional 19,285 shares during the period. Cintas accounts for 1.0% of Congress Asset Management Co.'s investment portfolio, making the stock its 23rd biggest position. Congress Asset Management Co. owned approximately 0.20% of Cintas worth $146,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV boosted its holdings in Cintas by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 25,294 shares of the business services provider's stock worth $4,621,000 after buying an additional 642 shares during the period. PUREfi Wealth LLC bought a new position in Cintas in the 4th quarter valued at $482,000. Bank Pictet & Cie Europe AG boosted its holdings in Cintas by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock valued at $93,969,000 after purchasing an additional 3,504 shares during the period. AustralianSuper Pty Ltd boosted its holdings in Cintas by 876.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 516,054 shares of the business services provider's stock valued at $94,283,000 after purchasing an additional 463,190 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in Cintas by 4.4% in the 4th quarter. V Square Quantitative Management LLC now owns 7,678 shares of the business services provider's stock valued at $1,403,000 after purchasing an additional 322 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial cut their price target on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut their price target on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, December 20th. The Goldman Sachs Group cut their price target on shares of Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a report on Friday, December 20th. UBS Group cut their price target on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a report on Friday, December 20th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $198.46.

Cintas Trading Up 2.2 %

NASDAQ:CTAS traded up $4.40 during trading hours on Wednesday, reaching $208.14. The company's stock had a trading volume of 2,047,298 shares, compared to its average volume of 1,709,011. The firm has a market capitalization of $83.99 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 3.94 and a beta of 1.38. The firm has a 50-day simple moving average of $196.84 and a 200-day simple moving average of $207.96. Cintas Co. has a 1 year low of $152.77 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 EPS. Research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Cintas's payout ratio is presently 37.61%.

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.