LS Investment Advisors LLC Invests $217,000 in Cintas Co. (NASDAQ:CTAS)

LS Investment Advisors LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 1,052 shares of the business services provider’s stock, valued at approximately $217,000.

A number of other hedge funds have also added to or reduced their stakes in CTAS. Impax Asset Management Group plc grew its holdings in shares of Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its holdings in Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares during the period. Congress Asset Management Co. increased its holdings in Cintas by 295.6% in the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after purchasing an additional 586,271 shares in the last quarter. National Pension Service grew its holdings in Cintas by 362.8% in the third quarter. National Pension Service now owns 736,193 shares of the business services provider’s stock worth $151,567,000 after purchasing an additional 577,135 shares during the period. Finally, SG Americas Securities LLC raised its stake in Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after buying an additional 486,500 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

NASDAQ CTAS opened at $219.52 on Friday. The stock has a market cap of $88.53 billion, a price-to-earnings ratio of 55.43, a PEG ratio of 4.09 and a beta of 1.32. Cintas Co. has a 12 month low of $131.01 and a 12 month high of $219.87. The company’s 50 day moving average is $218.46 and its two-hundred day moving average is $192.79. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its 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 return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business posted $3.70 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The firm 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 is presently 39.39%.

Cintas announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on CTAS shares. The Goldman Sachs Group raised their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Jefferies Financial Group dropped their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Truist Financial lifted their target price 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. Stifel Nicolaus boosted their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.