DT Investment Partners LLC Purchases 123 Shares of Cintas Co. (NASDAQ:CTAS)

DT Investment Partners LLC raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, Holdings Channel reports. The firm owned 164 shares of the business services provider’s stock after acquiring an additional 123 shares during the quarter. DT Investment Partners LLC’s holdings in Cintas were worth $34,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after acquiring an additional 86,460 shares in the last quarter. Creative Planning raised its stake in shares of Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares during the last quarter. Western Financial Corp CA boosted its position in shares of Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after buying an additional 10,177 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in Cintas by 2,063.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after buying an additional 22,700 shares in the last quarter. Finally, Searle & CO. increased its holdings in Cintas by 300.0% in the 3rd quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock worth $1,482,000 after buying an additional 5,400 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

CTAS opened at $207.41 on Friday. The firm has a market cap of $21.04 billion, a P/E ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37. The company has a 50 day simple moving average of $216.20 and a two-hundred day simple moving average of $190.02. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.70 EPS. Equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

CTAS has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Stifel Nicolaus lifted their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic began coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Finally, Robert W. Baird increased their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. 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.com, Cintas currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Company 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.