Baldwin Investment Management LLC Buys 3,000 Shares of Cintas Co. (NASDAQ:CTAS)

Baldwin Investment Management LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,000 shares of the business services provider’s stock after purchasing an additional 3,000 shares during the quarter. Baldwin Investment Management LLC’s holdings in Cintas were worth $824,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Atria Investments Inc grew its holdings in shares of Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after acquiring an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning boosted its position in shares of Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Western Financial Corp CA grew its stake in Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after purchasing an additional 10,177 shares during the period. Finally, Portside Wealth Group LLC raised its holdings in Cintas by 361.9% in the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock worth $287,000 after purchasing an additional 1,093 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $226.47 on Wednesday. The firm has a market capitalization of $91.34 billion, a PE ratio of 57.19, a P/E/G ratio of 4.41 and a beta of 1.32. The company has a 50 day moving average price of $211.47 and a 200-day moving average price of $198.14. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $228.12. 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 results 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the firm earned $3.70 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas’s payout ratio is currently 39.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Finally, Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cintas 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.