Wedmont Private Capital increased its stake in Cintas Corporation (NASDAQ:CTAS – Free Report) by 165.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 27,965 shares of the business services provider’s stock after buying an additional 17,445 shares during the period. Wedmont Private Capital’s holdings in Cintas were worth $5,455,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Monument Capital Management raised its stake in Cintas by 10.2% during the 3rd quarter. Monument Capital Management now owns 1,419 shares of the business services provider’s stock valued at $277,000 after buying an additional 131 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Cintas by 220.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 317,793 shares of the business services provider’s stock worth $61,989,000 after buying an additional 218,664 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cintas by 222.4% in the third quarter. GAMMA Investing LLC now owns 36,883 shares of the business services provider’s stock worth $7,194,000 after acquiring an additional 25,443 shares during the period. Farther Finance Advisors LLC increased its position in Cintas by 300.5% during the third quarter. Farther Finance Advisors LLC now owns 46,869 shares of the business services provider’s stock valued at $9,142,000 after acquiring an additional 35,165 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in Cintas by 2,000.7% in the third quarter. CoreCap Advisors LLC now owns 11,743 shares of the business services provider’s stock valued at $2,291,000 after acquiring an additional 11,184 shares during the period. Institutional investors own 63.46% of the company’s stock.
Cintas Stock Performance
Shares of NASDAQ:CTAS traded up $1.19 during mid-day trading on Friday, reaching $202.31. 345,130 shares of the company traded hands, compared to its average volume of 2,121,148. The company’s 50 day moving average price is $200.38 and its 200-day moving average price is $185.89. The firm has a market cap of $81.07 billion, a PE ratio of 39.90, a PEG ratio of 3.13 and a beta of 0.92. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29.
Cintas Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is 41.03%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research note on Thursday, September 24th. Argus boosted their price objective on shares of Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Finally, Citigroup upped their price objective on Cintas from $180.00 to $181.00 and gave the stock a “sell” rating in a research note on Wednesday, September 30th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.08.
Get Our Latest Stock Analysis on CTAS
Cintas Profile
Cintas Corporation (NASDAQ: CTAS) provides workplace services to businesses and organizations across North America. The company’s primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.
Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.
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