Pathstone Holdings LLC Purchases 48,921 Shares of Cintas Co. (NASDAQ:CTAS)

Pathstone Holdings LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 428.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,332 shares of the business services provider’s stock after acquiring an additional 48,921 shares during the quarter. Pathstone Holdings LLC’s holdings in Cintas were worth $12,421,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atria Investments Inc lifted its stake in shares of Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after acquiring an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC grew its position in Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares during the period. Creative Planning lifted its position in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after acquiring an additional 4,957 shares in the last quarter. Western Financial Corp CA increased its holdings in Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after purchasing an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC raised its position in Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after buying an additional 1,093 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Royal Bank of Canada lifted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two investment 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

CTAS opened at $218.75 on Thursday. The company has a fifty day moving average of $210.05 and a 200 day moving average of $196.56. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35. 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $3.70 earnings per share. As a group, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

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.