Tranquility Partners LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Tranquility Partners LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,304 shares of the business services provider’s stock after buying an additional 1,728 shares during the period. Tranquility Partners LLC’s holdings in Cintas were worth $474,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Caprock Group LLC raised its position in shares of Cintas by 306.9% during the 3rd quarter. Caprock Group LLC now owns 31,444 shares of the business services provider’s stock valued at $6,474,000 after acquiring an additional 23,716 shares in the last quarter. Pathstone Holdings LLC raised its holdings in shares of Cintas by 428.7% during the third quarter. Pathstone Holdings LLC now owns 60,332 shares of the business services provider’s stock valued at $12,421,000 after buying an additional 48,921 shares during the last quarter. Baron Wealth Management LLC bought a new stake in Cintas during the 3rd quarter valued at $563,000. EnRich Financial Partners LLC increased its stake in Cintas by 300.0% during the 3rd quarter. EnRich Financial Partners LLC now owns 396 shares of the business services provider’s stock valued at $82,000 after buying an additional 297 shares during the period. Finally, Meeder Advisory Services Inc. increased its stake in shares of Cintas by 283.2% during the third quarter. Meeder Advisory Services Inc. now owns 14,309 shares of the business services provider’s stock valued at $2,946,000 after acquiring an additional 10,575 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 0.5 %

Shares of NASDAQ:CTAS opened at $216.20 on Tuesday. The company has a market capitalization of $87.19 billion, a PE ratio of 54.60, a P/E/G ratio of 4.24 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. The company’s fifty day moving average is $221.79 and its 200-day moving average is $196.06. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS 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 business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $3.70 EPS. Cintas’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its board has authorized a share repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cintas Dividend Announcement

The firm 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 is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley boosted their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Robert W. Baird raised their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $199.63.

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.