LPL Financial LLC Buys 48,907 Shares of Cintas Co. (NASDAQ:CTAS)

LPL Financial LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 319,259 shares of the business services provider’s stock after acquiring an additional 48,907 shares during the period. LPL Financial LLC’s holdings in Cintas were worth $58,329,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in shares of Cintas during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new position in Cintas in the fourth quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new stake in Cintas during the fourth quarter worth $31,000. IAG Wealth Partners LLC increased its holdings in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Cintas in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CTAS. UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday. Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday. Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Truist Financial lifted their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $207.57.

Cintas Price Performance

CTAS opened at $206.25 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $83.23 billion, a P/E ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company’s 50 day simple moving average is $200.91 and its 200-day simple moving average is $208.87. Cintas Co. has a one year low of $162.16 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $3.84 EPS. Sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s dividend payout ratio is currently 36.11%.

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.