Cintas Co. (NASDAQ:CTAS) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,988 shares of the business services provider’s stock after acquiring an additional 1,326 shares during the period. Van ECK Associates Corp’s holdings in Cintas were worth $14,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. Creative Planning lifted its position in Cintas by 356.6% in the third quarter. Creative Planning now owns 88,354 shares of the business services provider’s stock valued at $18,190,000 after buying an additional 69,003 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Cintas by 310.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 13,614 shares of the business services provider’s stock worth $2,803,000 after purchasing an additional 10,296 shares during the period. Secure Asset Management LLC increased its holdings in Cintas by 274.2% in the 3rd quarter. Secure Asset Management LLC now owns 1,725 shares of the business services provider’s stock valued at $355,000 after purchasing an additional 1,264 shares during the last quarter. Bar Harbor Wealth Management raised its position in Cintas by 264.4% in the third quarter. Bar Harbor Wealth Management now owns 4,016 shares of the business services provider’s stock valued at $827,000 after purchasing an additional 2,914 shares during the period. Finally, Onyx Bridge Wealth Group LLC acquired a new position in Cintas during the third quarter worth $268,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTAS shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Morgan Stanley increased their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial cut their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. UBS Group decreased their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Wells Fargo & Company cut their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Trading Down 0.9 %

NASDAQ CTAS opened at $204.22 on Friday. The company’s fifty day simple moving average is $197.04 and its 200-day simple moving average is $207.53. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $82.41 billion, a P/E ratio of 49.24, a PEG ratio of 3.95 and a beta of 1.38. Cintas Co. has a 52 week low of $152.77 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.61 EPS. Equities research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is 37.61%.

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.