Nvwm LLC Has $39,000 Stake in Cintas Co. (NASDAQ:CTAS)

Nvwm LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 337.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 188 shares of the business services provider’s stock after buying an additional 145 shares during the quarter. Nvwm LLC’s holdings in Cintas were worth $39,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in 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 worth $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning raised 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 worth $13,551,000 after acquiring an additional 4,957 shares during the last quarter. Western Financial Corp CA raised 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 worth $2,429,000 after acquiring an additional 10,177 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of Cintas by 2,063.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after purchasing an additional 22,700 shares in the last quarter. Finally, Searle & CO. raised its position in shares of Cintas by 300.0% during the third quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock worth $1,482,000 after acquiring an additional 5,400 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTAS. 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 report on Tuesday, September 17th. Royal Bank of Canada increased their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Wells Fargo & Company boosted 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. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Robert W. Baird raised 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. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $205.62 on Monday. The stock has a market cap of $82.93 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 4.05 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 fifty-two week low of $126.74 and a fifty-two week high of $215.37. The firm’s 50-day simple moving average is $217.75 and its 200 day simple moving average is $192.01.

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

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Cintas declared that its board has approved a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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.