First National Trust Co Invests $203,000 in Cintas Co. (NASDAQ:CTAS)

First National Trust Co purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 984 shares of the business services provider’s stock, valued at approximately $203,000.

Other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in shares of Cintas by 17.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,173 shares of the business services provider’s stock valued at $1,493,000 after acquiring an additional 316 shares during the period. Orion Portfolio Solutions LLC increased its position in Cintas by 6.5% in the first quarter. Orion Portfolio Solutions LLC now owns 5,567 shares of the business services provider’s stock worth $3,825,000 after buying an additional 341 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Cintas by 2.0% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,444 shares of the business services provider’s stock valued at $1,679,000 after buying an additional 49 shares during the period. Twin Tree Management LP bought a new stake in shares of Cintas in the first quarter valued at $37,203,000. Finally, Trust Investment Advisors purchased a new position in shares of Cintas during the 1st quarter valued at $219,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.5 %

Shares of Cintas stock opened at $223.62 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a 1 year low of $135.07 and a 1 year high of $227.35. The firm has a market cap of $90.19 billion, a PE ratio of 56.47, a PEG ratio of 4.43 and a beta of 1.32. The company has a 50 day simple moving average of $220.30 and a two-hundred day simple moving average of $194.58.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 39.56% and a net margin of 16.80%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.70 EPS. Analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its board has approved a stock buyback program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

CTAS has been the topic of a number of research reports. Robert W. Baird boosted their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. 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. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus raised their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average 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.