Fisher Asset Management LLC Buys 1,576 Shares of Cintas Co. (NASDAQ:CTAS)

Fisher Asset Management LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 178.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,460 shares of the business services provider’s stock after purchasing an additional 1,576 shares during the quarter. Fisher Asset Management LLC’s holdings in Cintas were worth $507,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its position in Cintas by 211.1% during the 3rd 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 period. King Luther Capital Management Corp boosted its holdings in shares of Cintas by 293.2% during the third quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after purchasing an additional 1,419,975 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cintas by 258.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after purchasing an additional 1,365,825 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its stake in shares of Cintas by 300.0% during 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 buying an additional 1,222,500 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Cintas by 299.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock valued at $264,870,000 after purchasing an additional 964,698 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTAS. Truist Financial lifted their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada upped their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Jefferies Financial Group lowered their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $225.79 on Friday. 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 stock has a market capitalization of $91.06 billion, a PE ratio of 57.02, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32. The firm’s 50 day moving average price is $212.76 and its 200-day moving average price is $199.06. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly 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 net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $3.70 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business 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 $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

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.