Daiwa Securities Group Inc. Has $15.73 Million Stake in Cintas Co. (NASDAQ:CTAS)

Daiwa Securities Group Inc. boosted its stake in Cintas Co. (NASDAQ:CTAS) by 383.3% in the third quarter, HoldingsChannel.com reports. The firm owned 76,111 shares of the business services provider’s stock after buying an additional 60,362 shares during the period. Daiwa Securities Group Inc.’s holdings in Cintas were worth $15,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Atria Investments Inc boosted its position in Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after acquiring an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Cintas by 343.9% in the 3rd 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 lifted its position in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after acquiring an additional 4,957 shares in the last quarter. Western Financial Corp CA lifted its position in Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after acquiring an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC lifted its position in Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after acquiring an additional 1,093 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Robert W. Baird boosted their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $221.76 on Monday. The company has a market cap of $89.44 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32. The company has a 50-day moving average price of $210.64 and a 200-day moving average price of $197.43. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm 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%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 earnings per share. As a group, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

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.