Envestnet Asset Management Inc. trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS) by 4.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,755 shares of the business services provider’s stock after selling 1,779 shares during the period. Envestnet Asset Management Inc.’s holdings in Cintas were worth $5,016,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in Cintas by 66.7% in the third quarter. Private Advisor Group LLC now owns 7,198 shares of the business services provider’s stock valued at $1,076,000 after purchasing an additional 2,880 shares during the last quarter. Invictus RG purchased a new position in Cintas in the third quarter valued at approximately $621,000. Stifel Financial Corp increased its stake in Cintas by 2.8% in the third quarter. Stifel Financial Corp now owns 299,466 shares of the business services provider’s stock valued at $43,206,000 after purchasing an additional 8,285 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Cintas in the third quarter valued at approximately $1,373,000. Finally, Brookmont Capital Management purchased a new position in Cintas in the third quarter valued at approximately $223,000. Hedge funds and other institutional investors own 66.85% of the company’s stock.
Shares of Cintas Corporation (CTAS) opened at $159.18 on Friday. The firm has a market capitalization of $16,921.47, a P/E ratio of 32.35, a PEG ratio of 2.48 and a beta of 0.88. Cintas Corporation has a fifty-two week low of $112.96 and a fifty-two week high of $159.68. The company has a quick ratio of 1.57, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.18. Cintas had a return on equity of 23.71% and a net margin of 9.79%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The company’s revenue was up 27.2% compared to the same quarter last year. sell-side analysts predict that Cintas Corporation will post 5.36 EPS for the current fiscal year.
The business also recently declared an annual dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were issued a dividend of $1.62 per share. The ex-dividend date was Thursday, November 9th. This is an increase from Cintas’s previous annual dividend of $1.33. This represents a dividend yield of 1.07%. Cintas’s dividend payout ratio (DPR) is currently 31.89%.
Several equities analysts have commented on the stock. Deutsche Bank reiterated a “hold” rating and issued a $140.00 price target (up from $130.00) on shares of Cintas in a research note on Wednesday, September 27th. Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Thursday, August 24th. Robert W. Baird set a $152.00 price objective on Cintas and gave the company a “buy” rating in a report on Thursday, August 24th. Morgan Stanley reissued an “underweight” rating and issued a $127.00 price objective (up from $117.00) on shares of Cintas in a report on Wednesday, September 27th. Finally, Barclays increased their price objective on Cintas from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Cintas presently has an average rating of “Hold” and a consensus target price of $144.67.
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Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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