United Asset Strategies Inc. Boosts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

United Asset Strategies Inc. lifted its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 282.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,006 shares of the business services provider's stock after buying an additional 7,388 shares during the quarter. United Asset Strategies Inc.'s holdings in Cintas were worth $2,060,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CTAS. LGT Financial Advisors LLC grew its holdings in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. grew its holdings in Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock worth $26,000 after purchasing an additional 99 shares during the period. Atwood & Palmer Inc. acquired a new stake in Cintas in the second quarter worth $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas in the first quarter worth $29,000. Finally, Grove Bank & Trust grew its holdings in Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider's stock worth $30,000 after purchasing an additional 134 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on CTAS shares. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, September 26th. The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Stifel Nicolaus raised their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a "hold" rating in a research note on Friday, July 19th. Truist Financial raised their price objective 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. Finally, Barclays raised 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $199.63.

Cintas Stock Performance

CTAS stock traded down $2.04 during mid-day trading on Thursday, hitting $205.81. The company had a trading volume of 1,166,200 shares, compared to its average volume of 1,456,154. The firm has a market cap of $83.00 billion, a PE ratio of 51.97, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 12 month low of $125.62 and a 12 month high of $215.37. The stock's fifty day moving average price is $217.38 and its two-hundred day moving average price is $191.29.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The business 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 revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 earnings per share. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio is 39.39%.

Cintas declared that its board has authorized a stock repurchase program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

About Cintas

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.