Cintas Co. (NASDAQ:CTAS) Shares Acquired by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA boosted its position in Cintas Co. (NASDAQ:CTAS) by 322.0% in the third quarter, Holdings Channel.com reports. The firm owned 4,642 shares of the business services provider’s stock after acquiring an additional 3,542 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Cintas were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. MetLife Investment Management LLC grew its position in Cintas by 288.2% during the third quarter. MetLife Investment Management LLC now owns 104,086 shares of the business services provider’s stock worth $21,429,000 after buying an additional 77,272 shares during the period. CreativeOne Wealth LLC raised its position in shares of Cintas by 350.1% in the third quarter. CreativeOne Wealth LLC now owns 15,375 shares of the business services provider’s stock valued at $3,165,000 after buying an additional 11,959 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Cintas by 355.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 374,624 shares of the business services provider’s stock worth $77,128,000 after buying an additional 292,310 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Cintas by 295.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 34,351 shares of the business services provider’s stock worth $7,072,000 after acquiring an additional 25,675 shares during the period. Finally, Freedom Investment Management Inc. raised its stake in Cintas by 281.4% during the third quarter. Freedom Investment Management Inc. now owns 5,508 shares of the business services provider’s stock worth $1,134,000 after purchasing an additional 4,064 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of several research reports. Royal Bank of Canada increased their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Morgan Stanley increased their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Finally, UBS Group increased their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Up 0.1 %

Shares of CTAS stock traded up $0.29 during trading hours on Wednesday, hitting $226.76. 39,926 shares of the company were exchanged, compared to its average volume of 1,445,497. 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 market capitalization of $91.45 billion, a price-to-earnings ratio of 57.19, a P/E/G ratio of 4.41 and a beta of 1.32. Cintas Co. has a one year low of $136.87 and a one year high of $228.12. The business’s 50-day simple moving average is $211.47 and its two-hundred day simple moving average is $198.14.

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

Cintas Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. Cintas’s payout ratio is currently 39.39%.

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.