Chartwell Investment Partners LLC Boosts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Chartwell Investment Partners LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,108 shares of the business services provider’s stock after purchasing an additional 12,081 shares during the period. Chartwell Investment Partners LLC’s holdings in Cintas were worth $3,316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. Wolverine Asset Management LLC acquired a new stake in shares of Cintas in the third quarter valued at approximately $618,000. Ashton Thomas Securities LLC boosted its position in Cintas by 306.1% during the third quarter. Ashton Thomas Securities LLC now owns 2,412 shares of the business services provider’s stock worth $497,000 after acquiring an additional 1,818 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Cintas by 211.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after purchasing an additional 774,551 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Cintas by 304.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 132,364 shares of the business services provider’s stock worth $27,251,000 after purchasing an additional 99,650 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Cintas by 401.6% during the third quarter. Crossmark Global Holdings Inc. now owns 40,164 shares of the business services provider’s stock worth $8,269,000 after purchasing an additional 32,157 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Up 0.3 %

CTAS opened at $224.73 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $90.63 billion, a PE ratio of 56.75, a PEG ratio of 4.45 and a beta of 1.32. Cintas Co. has a 1-year low of $132.65 and a 1-year high of $227.35. The firm has a 50-day moving average price of $219.80 and a two-hundred day moving average price of $194.17.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.70 EPS. As a group, equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTAS shares. Barclays raised their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Truist Financial raised their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Robert W. Baird lifted their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report 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. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Company 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.