iA Global Asset Management Inc. Grows Stake in Cintas Co. (NASDAQ:CTAS)

iA Global Asset Management Inc. grew its holdings in Cintas Co. (NASDAQ:CTAS) by 5.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 54,003 shares of the business services provider’s stock after acquiring an additional 2,719 shares during the quarter. iA Global Asset Management Inc.’s holdings in Cintas were worth $9,866,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CTAS. Claro Advisors LLC purchased a new position in shares of Cintas in the 3rd quarter valued at about $251,000. Thrivent Financial for Lutherans increased its holdings in shares of Cintas by 331.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,970 shares of the business services provider’s stock valued at $4,317,000 after acquiring an additional 16,107 shares during the last quarter. MAI Capital Management increased its holdings in shares of Cintas by 173.5% in the 3rd quarter. MAI Capital Management now owns 8,789 shares of the business services provider’s stock valued at $1,810,000 after acquiring an additional 5,575 shares during the last quarter. Quest Partners LLC grew its stake in Cintas by 70.4% during the 3rd quarter. Quest Partners LLC now owns 5,172 shares of the business services provider’s stock worth $1,065,000 after buying an additional 2,137 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in Cintas by 428.7% during the 3rd quarter. Pathstone Holdings LLC now owns 60,332 shares of the business services provider’s stock worth $12,421,000 after buying an additional 48,921 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CTAS shares. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. UBS Group lowered their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Finally, The Goldman Sachs Group lowered their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Trading Up 1.5 %

Shares of CTAS opened at $196.37 on Thursday. The stock has a market cap of $79.24 billion, a PE ratio of 47.35, a P/E/G ratio of 3.98 and a beta of 1.41. The stock’s 50-day moving average is $200.39 and its two-hundred day moving average is $209.02. Cintas Co. has a 12 month low of $156.83 and a 12 month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

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

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.59%.

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.