Natixis Advisors LLC Buys 315,471 Shares of Cintas Co. (NASDAQ:CTAS)

Natixis Advisors LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 320.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 413,935 shares of the business services provider's stock after buying an additional 315,471 shares during the quarter. Natixis Advisors LLC owned 0.10% of Cintas worth $85,221,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CTAS. Atria Investments Inc boosted its stake 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 valued at $4,595,000 after purchasing an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock valued at $22,976,000 after purchasing an additional 86,460 shares during the period. Creative Planning boosted its stake in shares of Cintas by 34.4% in the second 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 boosted its stake 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 during the period. Finally, Portside Wealth Group LLC boosted its stake 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 valued at $287,000 after purchasing an additional 1,093 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 0.7 %

NASDAQ CTAS traded down $1.46 during trading on Friday, reaching $215.20. The company's stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,168,020. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $86.79 billion, a PE ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. The business has a 50-day moving average price of $221.49 and a 200-day moving average price of $195.50. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the previous year, the company earned $3.70 earnings per share. Cintas's revenue for the quarter was up 6.8% on a year-over-year basis. On average, research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas's payout ratio is 39.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTAS. Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research note on Thursday, September 26th. Truist Financial increased 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. Barclays increased 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. Morgan Stanley increased 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. Finally, Robert W. Baird increased their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $199.63.

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.