Versor Investments LP Purchases New Stake in Cintas Co. (NASDAQ:CTAS)

Versor Investments LP acquired a new stake in Cintas Co. (NASDAQ:CTAS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,034 shares of the business services provider’s stock, valued at approximately $213,000.

Other hedge funds have also recently made changes to their positions in the company. Atria Investments Inc increased its holdings in Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after purchasing an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after buying an additional 86,460 shares in the last quarter. Creative Planning raised its position in Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after buying an additional 4,957 shares during the last quarter. Western Financial Corp CA lifted its stake in Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after acquiring an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Cintas by 361.9% during the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock worth $287,000 after acquiring an additional 1,093 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Cintas stock opened at $215.20 on Friday. The firm has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The business has a fifty day moving average price of $221.49 and a 200-day moving average price of $195.28.

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 business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company earned $3.70 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its board has initiated a stock buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTAS shares. Royal Bank of Canada increased their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays lifted their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Robert W. Baird upped their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $199.63.

Cintas 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.