Dynamic Technology Lab Private Ltd Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Dynamic Technology Lab Private Ltd lifted its stake in Cintas Co. (NASDAQ:CTAS) by 492.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,761 shares of the business services provider’s stock after acquiring an additional 14,761 shares during the period. Cintas makes up about 0.4% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 25th largest holding. Dynamic Technology Lab Private Ltd’s holdings in Cintas were worth $3,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CTAS. LGT Financial Advisors LLC grew its holdings in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Financial Management Professionals Inc. boosted its position in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management increased its holdings in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. purchased a new stake in Cintas in the 2nd quarter worth approximately $27,000. Finally, Addison Advisors LLC boosted its holdings in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the topic of several research analyst reports. UBS Group upped their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” 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. Finally, Robert W. Baird boosted their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Two research 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’s stock. According to MarketBeat, Cintas has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $221.76 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a 50 day simple moving average of $210.64 and a two-hundred day simple moving average of $197.43. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35. The company has a market capitalization of $89.44 billion, a price-to-earnings ratio of 56.00, a P/E/G ratio of 4.37 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 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 business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $3.70 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

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

About Cintas

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.