UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 308.2% in the third quarter, Holdings Channel reports. The firm owned 2,522,921 shares of the business services provider’s stock after purchasing an additional 1,904,926 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cintas were worth $519,419,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of CTAS. FMR LLC grew its holdings in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Impax Asset Management Group plc lifted its stake in Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after buying an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp lifted 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 valued at $392,056,000 after buying an additional 1,419,975 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $390,127,000 after buying an additional 1,365,825 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its stake in Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after buying an additional 1,222,500 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on CTAS shares. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. UBS Group boosted their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $199.63.
Cintas Stock Performance
NASDAQ CTAS opened at $224.05 on Friday. 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 firm’s fifty day moving average price is $212.33 and its two-hundred day moving average price is $198.50. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $228.12. The firm has a market capitalization of $90.36 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32.
Cintas (NASDAQ:CTAS – Get Free Report) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.
Cintas Announces Dividend
The business also recently disclosed 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 0.70%. Cintas’s dividend payout ratio is currently 39.39%.
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.
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