Aviva PLC Purchases 27,021 Shares of Cintas Co. (NASDAQ:CTAS)

Aviva PLC increased its holdings in Cintas Co. (NASDAQ:CTAS) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 217,986 shares of the business services provider’s stock after acquiring an additional 27,021 shares during the quarter. Aviva PLC owned approximately 0.05% of Cintas worth $39,826,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of Cintas by 297.6% in the 3rd quarter. Janus Henderson Group PLC now owns 70,307 shares of the business services provider’s stock valued at $14,474,000 after acquiring an additional 52,624 shares during the period. Integrated Wealth Concepts LLC grew its stake in Cintas by 283.5% in the third quarter. Integrated Wealth Concepts LLC now owns 5,346 shares of the business services provider’s stock valued at $1,101,000 after purchasing an additional 3,952 shares during the last quarter. Wellington Management Group LLP raised its holdings in Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Cintas during the third quarter valued at about $1,455,000. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Cintas by 260.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 51,106 shares of the business services provider’s stock valued at $10,522,000 after buying an additional 36,921 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Down 7.1 %

CTAS stock opened at $190.33 on Monday. The company has a market capitalization of $76.81 billion, a P/E ratio of 45.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12. The firm’s fifty day simple moving average is $201.48 and its 200-day simple moving average is $204.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.84 earnings per share. As a group, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s dividend payout ratio is presently 36.11%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTAS. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Morgan Stanley raised their price objective on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Finally, Citigroup initiated coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $210.58.

Cintas Company 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.