Cintas Co. (NASDAQ:CTAS) Shares Acquired by Atria Investments Inc

Atria Investments Inc increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 291.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,321 shares of the business services provider’s stock after acquiring an additional 16,623 shares during the period. Atria Investments Inc’s holdings in Cintas were worth $4,595,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. Field & Main Bank boosted its position in Cintas by 246.7% during the third quarter. Field & Main Bank now owns 260 shares of the business services provider’s stock worth $54,000 after purchasing an additional 185 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Cintas by 296.9% during the 3rd quarter. Lindbrook Capital LLC now owns 2,580 shares of the business services provider’s stock worth $531,000 after buying an additional 1,930 shares during the period. Bridges Investment Management Inc. lifted its position in shares of Cintas by 302.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 273,855 shares of the business services provider’s stock valued at $56,381,000 after buying an additional 205,790 shares in the last quarter. Assetmark Inc. increased its holdings in Cintas by 406.4% in the 3rd quarter. Assetmark Inc. now owns 7,343 shares of the business services provider’s stock worth $1,512,000 after acquiring an additional 5,893 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its position in Cintas by 295.9% during the third quarter. Verdence Capital Advisors LLC now owns 1,366 shares of the business services provider’s stock worth $281,000 after acquiring an additional 1,021 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $224.73 on Wednesday. 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 firm has a market cap of $90.63 billion, a P/E ratio of 56.75, a P/E/G ratio of 4.45 and a beta of 1.32. The firm’s 50 day moving average price is $219.80 and its 200-day moving average price is $194.17. Cintas Co. has a one year low of $132.65 and a one year 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, 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 during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business posted $3.70 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed 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. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is currently 39.39%.

Cintas announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTAS. Jefferies Financial Group dropped their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Royal Bank of Canada increased their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Finally, Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.