abrdn plc Has $21.90 Million Holdings in Cintas Co. (NASDAQ:CTAS)

abrdn plc increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 70.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,345 shares of the business services provider’s stock after acquiring an additional 14,975 shares during the period. abrdn plc’s holdings in Cintas were worth $21,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its position in shares of Cintas by 17.4% during the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after buying an additional 151,783 shares during the period. American Century Companies Inc. grew its stake in shares of Cintas by 40.7% during the 3rd quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock worth $235,009,000 after acquiring an additional 141,375 shares in the last quarter. FMR LLC grew its stake in shares of Cintas by 5.5% during the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after acquiring an additional 123,468 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Cintas by 257.8% in the third quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock valued at $69,978,000 after purchasing an additional 104,854 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Cintas by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after purchasing an additional 85,662 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Up 0.2 %

Cintas stock opened at $666.33 on Wednesday. Cintas Co. has a twelve month low of $438.59 and a twelve month high of $704.84. The stock has a market cap of $67.55 billion, a P/E ratio of 46.02, a P/E/G ratio of 3.87 and a beta of 1.27. The company’s 50-day moving average price is $645.27 and its two-hundred day moving average price is $591.22. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the firm posted $3.14 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts expect that Cintas Co. will post 14.95 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s dividend payout ratio is 37.29%.

Analyst Ratings Changes

A number of research firms have recently commented on CTAS. Robert W. Baird increased their price objective on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Truist Financial raised their price target on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. UBS Group upped their price objective on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their target price on shares of Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $661.21.

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.