Moors & Cabot Inc. Buys 8,303 Shares of Cintas Co. (NASDAQ:CTAS)

Moors & Cabot Inc. grew its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 1,096.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,060 shares of the business services provider's stock after acquiring an additional 8,303 shares during the period. Moors & Cabot Inc.'s holdings in Cintas were worth $1,865,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Impax Asset Management Group plc increased its stake in shares of Cintas by 211.1% during 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. Alecta Tjanstepension Omsesidigt raised its stake in shares of Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider's stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. PNC Financial Services Group Inc. grew its holdings in Cintas by 299.8% during 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 purchasing an additional 964,698 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Cintas by 211.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider's stock valued at $234,826,000 after buying an additional 774,551 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Cintas by 301.0% in the third quarter. Swiss National Bank now owns 1,084,400 shares of the business services provider's stock valued at $223,256,000 after purchasing an additional 814,000 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

CTAS has been the subject of several research reports. Wells Fargo & Company lifted 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. Royal Bank of Canada raised their price objective on Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. UBS Group raised their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $199.63.

Cintas Price Performance

NASDAQ CTAS traded up $2.23 on Thursday, reaching $220.98. 193,206 shares of the company's stock traded hands, compared to its average volume of 1,442,690. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35. The stock has a 50-day simple moving average of $210.05 and a 200 day simple moving average of $196.56. The stock has a market cap of $89.12 billion, a PE ratio of 55.24, a P/E/G ratio of 4.29 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its 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 net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. As a group, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. Cintas's payout ratio is currently 39.39%.

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.