Intech Investment Management LLC Purchases 200,527 Shares of Cintas Co. (NASDAQ:CTAS)

Intech Investment Management LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 160.1% in the 4th quarter, HoldingsChannel reports. The firm owned 325,741 shares of the business services provider’s stock after buying an additional 200,527 shares during the period. Cintas accounts for about 1.8% of Intech Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. Intech Investment Management LLC’s holdings in Cintas were worth $59,513,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. State Street Corp increased its position in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC increased its position in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after acquiring an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC increased its position in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after acquiring an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. increased its position in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after acquiring an additional 1,904,926 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

Shares of CTAS stock opened at $195.17 on Tuesday. The company has a market cap of $78.76 billion, a price-to-earnings ratio of 47.06, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 52 week low of $155.89 and a 52 week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $200.22 and a 200-day moving average of $209.17.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm posted $3.61 EPS. Cintas’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTAS. UBS Group lowered their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial lowered their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley lifted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $199.79.

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.