Impax Asset Management Group plc Has $338.79 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Impax Asset Management Group plc decreased its stake in Cintas Co. (NASDAQ:CTAS) by 23.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,858,040 shares of the business services provider’s stock after selling 571,232 shares during the quarter. Cintas makes up about 1.5% of Impax Asset Management Group plc’s investment portfolio, making the stock its 17th largest position. Impax Asset Management Group plc’s holdings in Cintas were worth $338,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CTAS. Financial Management Professionals Inc. increased its holdings in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management grew its position in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Addison Advisors LLC increased its holdings in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Cintas during the 4th quarter valued at $27,000. Finally, Capital Advisors Ltd. LLC raised its position in Cintas by 321.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 122 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Morgan Stanley raised their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $198.46.

Cintas Trading Down 0.7 %

NASDAQ:CTAS opened at $204.43 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1-year low of $154.15 and a 1-year high of $228.12. The firm has a market capitalization of $82.50 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 3.98 and a beta of 1.38. The business’s 50-day moving average price is $196.53 and its two-hundred day moving average price is $208.39.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $3.61 EPS. On average, equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.59%.

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.