Huntington National Bank Buys 8,574 Shares of Cintas Co. (NASDAQ:CTAS)

Huntington National Bank grew its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 301.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 11,416 shares of the business services provider's stock after acquiring an additional 8,574 shares during the period. Huntington National Bank's holdings in Cintas were worth $2,350,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Atria Investments Inc increased its position in shares of Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider's stock worth $4,595,000 after acquiring an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock worth $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning raised its stake in Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider's stock valued at $13,551,000 after purchasing an additional 4,957 shares during the period. Western Financial Corp CA lifted its holdings in shares of Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider's stock valued at $2,429,000 after purchasing an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its position in shares of Cintas by 361.9% in the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider's stock worth $287,000 after buying an additional 1,093 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They issued a "neutral" rating and a $167.50 target price on the stock. The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Barclays upped their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Finally, Baird R W lowered shares of Cintas from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas has a consensus rating of "Hold" and an average price target of $199.63.

Cintas Stock Down 0.7 %

Shares of NASDAQ CTAS traded down $1.46 during mid-day trading on Friday, reaching $215.20. 1,792,986 shares of the company traded hands, compared to its average volume of 1,450,435. The company's fifty day moving average is $221.49 and its two-hundred day moving average is $195.28. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week 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. The stock has a market cap of $86.79 billion, a PE ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The company 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%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.70 earnings per share. On average, analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has approved a stock buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given 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 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.