Verdence Capital Advisors LLC Makes New $215,000 Investment in Cintas Co. (NASDAQ:CTAS)

Verdence Capital Advisors LLC acquired a new stake in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 356 shares of the business services provider’s stock, valued at approximately $215,000.

Several other hedge funds also recently modified their holdings of the stock. Invesco Ltd. grew its stake in shares of Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after buying an additional 151,783 shares during the period. American Century Companies Inc. raised its position in shares of Cintas by 40.7% during the third quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock worth $235,009,000 after purchasing an additional 141,375 shares during the period. FMR LLC grew its position in Cintas by 5.5% in the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after purchasing an additional 123,468 shares during the period. Acadian Asset Management LLC increased its stake in Cintas by 257.8% during the 3rd 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 in the last quarter. Finally, Nordea Investment Management AB raised 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 buying an additional 85,662 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.2 %

CTAS opened at $666.33 on Wednesday. The business’s fifty day simple moving average is $645.27 and its 200 day simple moving average is $591.22. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The stock has a market cap of $67.55 billion, a PE ratio of 46.02, a P/E/G ratio of 3.87 and a beta of 1.27.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group boosted their target price on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Robert W. Baird increased their price objective on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. The Goldman Sachs Group increased their price target on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada lifted their price objective on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.