Dimensional Fund Advisors LP grew its position in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 0.4% in the second quarter, Holdings Channel reports. The fund owned 408,656 shares of the business services provider’s stock after buying an additional 1,697 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Cintas were worth $203,121,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Cintas in the fourth quarter worth $379,291,000. Select Equity Group L.P. lifted its position in Cintas by 1,344.1% in the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after buying an additional 440,662 shares during the last quarter. BlackRock Inc. lifted its position in Cintas by 3.7% in the first quarter. BlackRock Inc. now owns 7,944,495 shares of the business services provider’s stock worth $3,675,759,000 after buying an additional 283,872 shares during the last quarter. Impax Asset Management Group plc lifted its position in Cintas by 21.4% in the first quarter. Impax Asset Management Group plc now owns 1,247,840 shares of the business services provider’s stock worth $576,464,000 after buying an additional 220,333 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Cintas by 8,140.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock worth $73,609,000 after buying an additional 170,939 shares during the last quarter. 62.26% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Cintas
In other Cintas news, Director Melanie W. Barstad sold 1,968 shares of Cintas stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $514.17, for a total value of $1,011,886.56. Following the transaction, the director now owns 6,250 shares in the company, valued at $3,213,562.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.10% of the stock is owned by insiders.
Cintas Stock Performance
Cintas (NASDAQ:CTAS – Get Free Report) last posted its earnings results on Tuesday, September 26th. The business services provider reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.03. Cintas had a return on equity of 36.82% and a net margin of 15.36%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the firm earned $3.39 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Cintas Co. will post 14.35 earnings per share for the current fiscal year.
Cintas Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $5.40 annualized dividend and a yield of 0.99%. Cintas’s dividend payout ratio (DPR) is presently 40.63%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on CTAS shares. Stifel Nicolaus raised their price target on Cintas from $521.00 to $526.00 and gave the stock a “hold” rating in a research report on Wednesday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $525.00 target price on shares of Cintas in a research note on Wednesday, September 27th. The Goldman Sachs Group upgraded Cintas from a “buy” rating to a “conviction-buy” rating in a research note on Monday, October 2nd. Truist Financial started coverage on Cintas in a research note on Monday, November 13th. They issued a “buy” rating and a $625.00 target price on the stock. Finally, Robert W. Baird increased their target price on Cintas from $524.00 to $540.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 27th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Moderate Buy” and an average price target of $534.40.
Cintas Company Profile
Cintas Corporation provides 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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