ICW Investment Advisors LLC Grows Position in Cintas Co. (NASDAQ:CTAS)

ICW Investment Advisors LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 817 shares of the business services provider’s stock after purchasing an additional 24 shares during the period. ICW Investment Advisors LLC’s holdings in Cintas were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CTAS. FMR LLC lifted its holdings in 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 purchasing an additional 123,468 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Cintas by 17.4% in 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 in the last quarter. Northern Trust Corp boosted its position in shares of Cintas by 7.6% in the third quarter. Northern Trust Corp now owns 1,008,632 shares of the business services provider’s stock valued at $485,162,000 after acquiring an additional 71,482 shares during the period. Morgan Stanley grew its stake in Cintas by 1.9% during the third quarter. Morgan Stanley now owns 823,280 shares of the business services provider’s stock valued at $396,007,000 after acquiring an additional 15,053 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after acquiring an additional 85,662 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America raised their price target on shares of Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Royal Bank of Canada upped their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Barclays lifted their price target on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Robert W. Baird upped their price objective on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Truist Financial lifted their target price on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Stock Performance

Cintas stock opened at $663.59 on Thursday. The firm has a fifty day simple moving average of $651.02 and a two-hundred day simple moving average of $597.11. Cintas Co. has a twelve month low of $454.70 and a twelve month high of $704.84. The company has a market capitalization of $67.27 billion, a PE ratio of 45.83, a P/E/G ratio of 3.86 and a beta of 1.27. 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 issued its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.26. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $3.14 EPS. Research analysts expect that Cintas Co. will post 14.95 EPS for the current year.

Cintas Announces Dividend

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

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.