Cintas Co. (NASDAQ:CTAS) Shares Acquired by Rogco LP

Rogco LP boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 424 shares of the business services provider’s stock after buying an additional 318 shares during the quarter. Rogco LP’s holdings in Cintas were worth $87,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Alecta Tjanstepension Omsesidigt raised its position 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 worth $335,552,000 after purchasing an additional 1,222,500 shares during the period. Legal & General Group Plc raised its holdings in Cintas by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after buying an additional 3,471 shares during the period. Nordea Investment Management AB raised its holdings in Cintas by 6.3% during the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after buying an additional 37,727 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Cintas by 300.0% in the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after buying an additional 383,124 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Cintas by 3,302.1% in the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after buying an additional 486,500 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.1 %

NASDAQ CTAS traded up $0.21 during trading on Thursday, hitting $209.92. 233,573 shares of the company traded hands, compared to its average volume of 1,461,376. The company has a market capitalization of $21.30 billion, a P/E ratio of 14.48, a PEG ratio of 4.12 and a beta of 1.32. The business has a fifty day simple moving average of $215.86 and a 200 day simple moving average of $189.89. Cintas Co. has a 12 month low of $123.65 and a 12 month high of $215.37. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company earned $3.70 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has initiated a share buyback plan 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price 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. Jefferies Financial Group reduced their price objective on 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 upped their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $199.63.

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.