Falcon Wealth Planning Raises Position in Cintas Co. (NASDAQ:CTAS)

Falcon Wealth Planning lifted its stake in Cintas Co. (NASDAQ:CTAS) by 295.8% in the third quarter, Holdings Channel.com reports. The firm owned 3,396 shares of the business services provider’s stock after buying an additional 2,538 shares during the period. Falcon Wealth Planning’s holdings in Cintas were worth $699,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in 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 worth $22,976,000 after buying an additional 86,460 shares during the period. Creative Planning boosted its stake in shares of Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares during the period. Western Financial Corp CA grew its holdings in Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after purchasing an additional 10,177 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in Cintas by 2,063.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after purchasing an additional 22,700 shares during the last quarter. Finally, Searle & CO. boosted its position in shares of Cintas by 300.0% during the third quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock valued at $1,482,000 after buying an additional 5,400 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.1 %

CTAS traded up $2.22 on Tuesday, hitting $209.78. The company had a trading volume of 181,369 shares, compared to its average volume of 1,445,507. The stock has a market capitalization of $84.60 billion, a price-to-earnings ratio of 52.41, a P/E/G ratio of 4.05 and a beta of 1.32. 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 stock has a fifty day moving average price of $217.93 and a 200-day moving average price of $192.31. Cintas Co. has a 12-month low of $128.92 and a 12-month high of $215.37.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data 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. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.70 EPS. Analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its board has approved a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. Cintas’s payout ratio is 39.39%.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus increased their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $199.63.

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.