Wesbanco Bank Inc. Increases Holdings in Cintas Co. (NASDAQ:CTAS)

Wesbanco Bank Inc. grew its holdings in Cintas Co. (NASDAQ:CTAS) by 283.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,338 shares of the business services provider’s stock after buying an additional 989 shares during the quarter. Wesbanco Bank Inc.’s holdings in Cintas were worth $275,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in Cintas by 3,302.1% in the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after acquiring an additional 486,500 shares during the period. Los Angeles Capital Management LLC raised its stake in Cintas by 123.1% in the second quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after buying an additional 201,955 shares in the last quarter. Global Assets Advisory LLC bought a new position in Cintas in the first quarter worth about $84,646,000. Congress Asset Management Co. MA lifted its holdings in Cintas by 124.9% in the first quarter. Congress Asset Management Co. MA now owns 195,506 shares of the business services provider’s stock worth $134,318,000 after buying an additional 108,582 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Cintas during the 2nd quarter worth approximately $71,824,000. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now directly owns 125,808 shares in the company, valued at $24,083,425.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 15.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CTAS shares. Truist Financial raised their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. UBS Group raised their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus upped their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Two investment 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. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Up 1.1 %

CTAS stock opened at $212.93 on Thursday. The stock has a market capitalization of $21.60 billion, a P/E ratio of 14.71, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $213.40. The business has a fifty day moving average price of $213.58 and a 200-day moving average price of $188.37.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.70 EPS. Equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

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.