Empowered Funds LLC Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Empowered Funds LLC boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 29.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,634 shares of the business services provider’s stock after acquiring an additional 5,606 shares during the quarter. Empowered Funds LLC’s holdings in Cintas were worth $4,501,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CTAS. Brookstone Capital Management lifted its stake in shares of Cintas by 209.7% in the 3rd quarter. Brookstone Capital Management now owns 1,081 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 732 shares during the period. Exchange Traded Concepts LLC increased its holdings in Cintas by 295.4% in the third quarter. Exchange Traded Concepts LLC now owns 11,344 shares of the business services provider’s stock valued at $2,336,000 after buying an additional 8,475 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of Cintas in the third quarter worth about $537,000. ORG Partners LLC raised its position in shares of Cintas by 17.8% in the third quarter. ORG Partners LLC now owns 1,613 shares of the business services provider’s stock worth $332,000 after acquiring an additional 244 shares during the period. Finally, Grove Bank & Trust boosted its stake in shares of Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Truist Financial reduced their price objective 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, Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $198.46.

Cintas Trading Up 0.7 %

CTAS opened at $205.40 on Wednesday. The firm has a market capitalization of $82.89 billion, a price-to-earnings ratio of 49.52, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. The company’s 50 day simple moving average is $198.50 and its two-hundred day simple moving average is $207.36. Cintas Co. has a 1-year low of $150.70 and a 1-year 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 announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.61 earnings per share. Analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio (DPR) is 37.61%.

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.