Alesco Advisors LLC Buys 930 Shares of Cintas Co. (NASDAQ:CTAS)

Alesco Advisors LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,240 shares of the business services provider’s stock after acquiring an additional 930 shares during the period. Alesco Advisors LLC’s holdings in Cintas were worth $255,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Natixis bought a new position in Cintas during the first quarter valued at approximately $346,000. Canada Pension Plan Investment Board grew its holdings in shares of Cintas by 96.1% in the first quarter. Canada Pension Plan Investment Board now owns 40,910 shares of the business services provider’s stock valued at $28,106,000 after purchasing an additional 20,050 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Cintas in the first quarter valued at $126,000. Morse Asset Management Inc increased its position in Cintas by 4.1% in the first quarter. Morse Asset Management Inc now owns 5,562 shares of the business services provider’s stock worth $3,821,000 after purchasing an additional 218 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its stake in Cintas by 14.6% during the first quarter. Mount Yale Investment Advisors LLC now owns 1,229 shares of the business services provider’s stock valued at $844,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTAS. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. 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 report on Thursday, September 26th. UBS Group boosted 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. Finally, Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 0.1 %

CTAS opened at $221.76 on Friday. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $227.35. The company has a market capitalization of $89.44 billion, a P/E ratio of 56.00, a PEG ratio of 4.36 and a beta of 1.32. The stock’s fifty day moving average is $210.64 and its two-hundred day moving average is $197.09. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.70 earnings per share. Analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. Cintas’s dividend payout ratio is presently 39.39%.

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.