Arlington Trust Co LLC Purchases 258 Shares of Cintas Co. (NASDAQ:CTAS)

Arlington Trust Co LLC boosted its position in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 344 shares of the business services provider’s stock after acquiring an additional 258 shares during the period. Arlington Trust Co LLC’s holdings in Cintas were worth $71,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTAS. Alecta Tjanstepension Omsesidigt increased its position in Cintas by 300.0% during the 3rd 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. Congress Asset Management Co. boosted its stake in shares of Cintas by 295.6% during the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after purchasing an additional 586,271 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after buying an additional 486,500 shares during the period. Bank Pictet & Cie Europe AG raised its stake in 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 in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Cintas by 268.2% in the third quarter. New York State Common Retirement Fund now owns 506,088 shares of the business services provider’s stock worth $104,193,000 after buying an additional 368,645 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock traded down $0.19 during mid-day trading on Friday, reaching $205.62. 1,099,834 shares of the company’s stock traded hands, compared to its average volume of 1,454,473. 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 firm has a market capitalization of $82.93 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a 12 month low of $126.74 and a 12 month high of $215.37. The firm has a 50 day moving average price of $217.75 and a two-hundred day moving average price of $191.67.

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

Cintas declared that its board has authorized a share 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically 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. Shareholders 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 dividend on an annualized basis and a yield of 0.76%. Cintas’s payout ratio is presently 39.39%.

Wall Street Analyst Weigh In

CTAS has been the subject of several research reports. Wells Fargo & Company increased their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group raised their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird upped their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Truist Financial boosted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley raised their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus 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.