UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Cintas Corporation (NASDAQ:CTAS – Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,056,578 shares of the business services provider’s stock after selling 98,722 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.51% of Cintas worth $349,783,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. AMG National Trust Bank acquired a new position in shares of Cintas during the second quarter worth $1,973,000. Summit Global Investments bought a new position in shares of Cintas in the 2nd quarter valued at $950,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cintas during the 2nd quarter valued at $4,972,000. TimesSquare Capital Management LLC acquired a new stake in shares of Cintas during the 2nd quarter valued at $62,057,000. Finally, Riverbridge Partners LLC grew its position in Cintas by 7.7% during the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after acquiring an additional 16,437 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.
Cintas Price Performance
Shares of NASDAQ:CTAS opened at $204.18 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The firm has a market cap of $81.71 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 3.30 and a beta of 0.92. The firm’s fifty day moving average is $194.43 and its 200-day moving average is $185.45.
Cintas Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Cintas’s payout ratio is currently 55.61%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on CTAS shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Wells Fargo & Company restated an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. UBS Group reaffirmed a “buy” rating and issued a $230.00 price objective (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.31.
Check Out Our Latest Stock Analysis on CTAS
About Cintas
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
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