Quest Partners LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Quest Partners LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 70.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,172 shares of the business services provider’s stock after purchasing an additional 2,137 shares during the quarter. Quest Partners LLC’s holdings in Cintas were worth $1,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MAI Capital Management raised its holdings in Cintas by 173.5% during the third quarter. MAI Capital Management now owns 8,789 shares of the business services provider’s stock worth $1,810,000 after purchasing an additional 5,575 shares during the last quarter. AMG National Trust Bank raised its holdings in shares of Cintas by 298.5% in the third quarter. AMG National Trust Bank now owns 12,584 shares of the business services provider’s stock worth $2,591,000 after acquiring an additional 9,426 shares during the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Cintas by 271.8% in the third quarter. TrinityPoint Wealth LLC now owns 4,859 shares of the business services provider’s stock worth $1,000,000 after acquiring an additional 3,552 shares during the last quarter. Swiss National Bank raised its holdings in shares of Cintas by 301.0% in the third quarter. Swiss National Bank now owns 1,084,400 shares of the business services provider’s stock worth $223,256,000 after acquiring an additional 814,000 shares during the last quarter. Finally, S&CO Inc. raised its holdings in shares of Cintas by 200.0% in the third quarter. S&CO Inc. now owns 2,400 shares of the business services provider’s stock worth $494,000 after acquiring an additional 1,600 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTAS. Truist Financial boosted their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group dropped 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. Royal Bank of Canada upped their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group upped their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird upped 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. 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 stock. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $218.75 on Thursday. Cintas Co. has a 1-year low of $136.87 and a 1-year high of $227.35. The business has a 50-day moving average of $210.05 and a 200-day moving average of $196.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The company 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, 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 company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

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. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. 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.