Carnegie Investment Counsel Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Carnegie Investment Counsel lifted its position in Cintas Co. (NASDAQ:CTAS) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 77,620 shares of the business services provider’s stock after buying an additional 3,180 shares during the quarter. Carnegie Investment Counsel’s holdings in Cintas were worth $14,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the period. LVM Capital Management Ltd. MI grew its holdings in shares of Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock valued at $1,002,000 after purchasing an additional 4,086 shares in the last quarter. Atria Investments Inc increased its stake in Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after buying an additional 16,623 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after buying an additional 86,460 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 1.2 %

Shares of Cintas stock opened at $198.05 on Friday. The company has a fifty day simple moving average of $206.18 and a 200-day simple moving average of $204.81. Cintas Co. has a 12-month low of $146.29 and a 12-month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $79.92 billion, a price-to-earnings ratio of 47.75, a PEG ratio of 3.65 and a beta of 1.37.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm posted $3.61 earnings per share. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.61%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Jefferies Financial Group cut their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $198.46.

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.