HighTower Advisors LLC boosted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 270.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,265 shares of the business services provider's stock after buying an additional 52,022 shares during the quarter. HighTower Advisors LLC's holdings in Cintas were worth $14,662,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its holdings in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider's stock valued at $1,156,000 after acquiring an additional 14 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider's stock valued at $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank increased its position in shares of Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider's stock worth $53,000 after buying an additional 15 shares during the period. Drive Wealth Management LLC raised its stake in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock worth $314,000 after buying an additional 16 shares during the last quarter. Finally, TIAA Trust National Association lifted its holdings in Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock valued at $954,000 after buying an additional 16 shares during the period. Institutional investors own 63.46% of the company's stock.
Shares of Cintas stock opened at $223.71 on Friday. The company has a market cap of $90.22 billion, a PE ratio of 56.49, a price-to-earnings-growth ratio of 4.38 and a beta of 1.33. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $228.12. The business has a 50 day moving average price of $214.14 and a 200-day moving average price of $200.27.
Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 EPS. Equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio (DPR) is presently 39.39%.
Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price target on Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a research note on Thursday, September 26th. 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. Wells Fargo & Company lifted their price objective 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. Finally, Jefferies Financial Group cut their target price on shares of Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has an average rating of "Hold" and a consensus price target of $199.63.
Read Our Latest Report on CTAS
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.
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