United Advisor Group LLC Has $382,000 Holdings in Cintas Co. (NASDAQ:CTAS)

United Advisor Group LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,856 shares of the business services provider’s stock after purchasing an additional 1,393 shares during the quarter. United Advisor Group LLC’s holdings in Cintas were worth $382,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Checchi Capital Advisers LLC boosted its holdings in Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares in the last quarter. Field & Main Bank grew its position in Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 15 shares during the last quarter. Drive Wealth Management LLC boosted its position in Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after buying an additional 16 shares in the last quarter. Finally, TIAA Trust National Association grew its position in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CTAS shares. Barclays lifted their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Wells Fargo & Company raised their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Truist Financial boosted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Finally, Stifel Nicolaus upped their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 3.8 %

NASDAQ:CTAS opened at $217.02 on Thursday. The firm has a market cap of $87.52 billion, a P/E ratio of 54.80, 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 firm has a 50-day simple moving average of $218.46 and a two-hundred day simple moving average of $192.79. Cintas Co. has a fifty-two week low of $129.15 and a fifty-two week high of $217.51.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 EPS. Analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Cintas announced that its board has initiated a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.