MAI Capital Management Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

MAI Capital Management raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 173.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,789 shares of the business services provider’s stock after acquiring an additional 5,575 shares during the period. MAI Capital Management’s holdings in Cintas were worth $1,810,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in shares of Cintas by 88.8% in the first quarter. Bessemer Group Inc. now owns 3,864 shares of the business services provider’s stock worth $2,656,000 after buying an additional 1,817 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Cintas by 41.1% during the 1st quarter. Lake Street Advisors Group LLC now owns 515 shares of the business services provider’s stock valued at $354,000 after purchasing an additional 150 shares in the last quarter. Natixis purchased a new stake in shares of Cintas in the 1st quarter worth approximately $346,000. LGT Group Foundation bought a new position in shares of Cintas in the 1st quarter worth $170,000. Finally, Wellington Wealth Strategies LLC. bought a new position in Cintas in the first quarter worth about $212,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. 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 report on Thursday, September 26th. Finally, Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of CTAS opened at $218.75 on Thursday. The firm has a fifty day simple moving average of $210.05 and a 200 day simple moving average of $196.56. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $88.22 billion, a price-to-earnings ratio of 55.24, a PEG ratio of 4.24 and a beta of 1.32.

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, beating analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $3.70 earnings per share. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas’s payout ratio is 39.39%.

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.