Kingsview Wealth Management LLC Has $1 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Kingsview Wealth Management LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 389.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,874 shares of the business services provider’s stock after purchasing an additional 3,878 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Cintas were worth $1,003,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc boosted its holdings in shares of Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after acquiring an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Cintas by 293.2% in 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 in the last quarter. Alecta Tjanstepension Omsesidigt grew its holdings 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 worth $335,552,000 after purchasing an additional 1,222,500 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $264,870,000 after buying an additional 964,698 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 1.1 %

Cintas stock opened at $226.47 on Wednesday. The firm has a market capitalization of $91.34 billion, a price-to-earnings ratio of 57.19, a PEG ratio of 4.37 and a beta of 1.32. The company’s 50 day simple moving average is $211.47 and its 200 day simple moving average is $198.14. 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 fifty-two week low of $136.87 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued 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 0.69%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTAS. Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.