Private Trust Co. NA Has $3.80 Million Stake in Cintas Co. (NASDAQ:CTAS)

Private Trust Co. NA lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 309.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,475 shares of the business services provider’s stock after buying an additional 13,958 shares during the period. Private Trust Co. NA’s holdings in Cintas were worth $3,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTAS. Hancock Whitney Corp increased its position in shares of Cintas by 527.7% in the third quarter. Hancock Whitney Corp now owns 4,526 shares of the business services provider’s stock valued at $932,000 after acquiring an additional 3,805 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Cintas during the 3rd quarter worth approximately $59,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Cintas by 305.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 9,310 shares of the business services provider’s stock valued at $1,917,000 after buying an additional 7,012 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Cintas by 311.3% in the third quarter. Loomis Sayles & Co. L P now owns 436 shares of the business services provider’s stock valued at $90,000 after buying an additional 330 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in Cintas during the third quarter worth $979,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTAS. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Morgan Stanley lifted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Jefferies Financial Group decreased their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

CTAS stock opened at $221.76 on Monday. The company has a market capitalization of $89.44 billion, a P/E ratio of 56.00, a PEG ratio of 4.37 and a beta of 1.32. The company has a fifty day moving average price of $210.64 and a 200-day moving average price of $197.43. 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 52-week low of $136.87 and a 52-week high of $227.35.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating 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 firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

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.