Van ECK Associates Corp Purchases 1,326 Shares of Cintas Co. (NASDAQ:CTAS)

Van ECK Associates Corp increased its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,988 shares of the business services provider's stock after acquiring an additional 1,326 shares during the quarter. Van ECK Associates Corp's holdings in Cintas were worth $14,614,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. increased its stake in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock valued at $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management increased its stake in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock valued at $26,000 after buying an additional 104 shares during the period. Sound Income Strategies LLC acquired a new position in Cintas in the 4th quarter valued at approximately $27,000. Addison Advisors LLC increased its stake in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock valued at $28,000 after buying an additional 114 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new position in Cintas in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTAS shares. UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Robert W. Baird dropped their price target on shares of Cintas from $209.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Truist Financial dropped their price target on shares of Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group dropped their price target on shares of Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Two investment 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $198.46.

Cintas Stock Performance

Cintas stock traded up $4.40 during mid-day trading on Wednesday, reaching $208.14. The company had a trading volume of 2,042,817 shares, compared to its average volume of 1,709,008. The firm has a market cap 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 company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $196.84 and a 200-day moving average of $207.96. Cintas Co. has a 52 week low of $152.77 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during 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 for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $3.61 EPS. On average, sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend 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.