Great Valley Advisor Group Inc. Takes $223,000 Position in Cintas Co. (NASDAQ:CTAS)

Great Valley Advisor Group Inc. acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the third quarter, Holdings Channel reports. The firm acquired 1,085 shares of the business services provider’s stock, valued at approximately $223,000.

Other institutional investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc lifted its position in shares of Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after buying an additional 1,648,350 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of Cintas by 293.2% during the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after acquiring an additional 1,419,975 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cintas by 258.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock valued at $390,127,000 after acquiring an additional 1,365,825 shares during the last quarter. Alecta Tjanstepension Omsesidigt boosted its stake in Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after acquiring an additional 1,222,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Cintas by 299.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock worth $264,870,000 after purchasing an additional 964,698 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $224.05 on Thursday. The firm has a market cap of $90.36 billion, a PE ratio of 56.58, a P/E/G ratio of 4.41 and a beta of 1.32. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $211.92 and a 200 day moving average price of $198.32.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas’s dividend payout ratio (DPR) is 39.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTAS shares. Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada increased their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $199.63.

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.