1,139 Shares in Cintas Co. (NASDAQ:CTAS) Purchased by FSM Wealth Advisors LLC

FSM Wealth Advisors LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,139 shares of the business services provider’s stock, valued at approximately $235,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Impax Asset Management Group plc lifted its holdings in shares of Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Cintas by 300.0% in the third 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 in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Cintas by 295.6% in the third 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. National Pension Service lifted its holdings in shares of Cintas by 362.8% in the third quarter. National Pension Service now owns 736,193 shares of the business services provider’s stock valued at $151,567,000 after purchasing an additional 577,135 shares in the last quarter. Finally, SG Americas Securities LLC raised its position 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 valued at $103,194,000 after buying an additional 486,500 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CTAS shares. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Truist Financial boosted their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Two 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. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

CTAS opened at $208.99 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52-week low of $128.92 and a 52-week high of $215.37. The company has a 50 day moving average of $218.11 and a two-hundred day moving average of $192.62. The company has a market cap of $84.29 billion, a P/E ratio of 52.78, a P/E/G ratio of 4.05 and a beta of 1.32.

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

Cintas Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Cintas declared that its Board of Directors has authorized a stock repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

Cintas Company 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.