Bensler LLC Buys 45,054 Shares of Cintas Co. (NASDAQ:CTAS)

Bensler LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 314.0% in the third quarter, Holdings Channel.com reports. The fund owned 59,403 shares of the business services provider’s stock after buying an additional 45,054 shares during the quarter. Cintas comprises about 1.5% of Bensler LLC’s portfolio, making the stock its 21st largest holding. Bensler LLC’s holdings in Cintas were worth $12,230,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC grew its stake in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares during the period. Atwood & Palmer Inc. acquired a new position in shares of Cintas in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas during the first quarter worth approximately $29,000. Finally, Grove Bank & Trust boosted its position in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 1.2 %

CTAS opened at $219.52 on Friday. The business’s 50-day simple moving average is $218.46 and its 200-day simple moving average is $192.79. 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 Co. has a one year low of $131.01 and a one year high of $219.87. The stock has a market capitalization of $88.53 billion, a P/E ratio of 55.43, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32.

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, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 EPS. Analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has initiated a stock buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTAS shares. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Truist Financial raised their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group raised their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus raised their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average 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.