Horizon Investments LLC Buys 141 Shares of Cintas Co. (NASDAQ:CTAS)

Horizon Investments LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,090 shares of the business services provider’s stock after acquiring an additional 141 shares during the period. Horizon Investments LLC’s holdings in Cintas were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTAS. Sound Income Strategies LLC purchased a new stake in Cintas during the 4th quarter valued at $27,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the fourth quarter worth about $31,000. IAG Wealth Partners LLC boosted its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas in the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management purchased a new position in Cintas during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several research analyst reports. Truist Financial dropped their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. UBS Group reduced their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group cut their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Robert W. Baird decreased their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.79.

Cintas Trading Up 1.5 %

NASDAQ CTAS opened at $196.37 on Thursday. The stock’s fifty day moving average price is $200.39 and its 200-day moving average price is $209.02. 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 $79.24 billion, a P/E ratio of 47.35, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas Co. has a 12 month low of $156.83 and a 12 month high of $228.12.

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

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

About Cintas

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.