Huntington National Bank Boosts Stake in Cintas Co. (NASDAQ:CTAS)

Huntington National Bank lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 301.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,416 shares of the business services provider’s stock after buying an additional 8,574 shares during the period. Huntington National Bank’s holdings in Cintas were worth $2,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CTAS. Impax Asset Management Group plc grew its stake in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares during the period. Alecta Tjanstepension Omsesidigt boosted its holdings in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after buying an additional 1,222,500 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Cintas by 211.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after buying an additional 774,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Cintas by 291.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock worth $183,110,000 after buying an additional 662,431 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in Cintas by 295.6% in the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after acquiring an additional 586,271 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Barclays lifted their price objective 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 shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Down 0.7 %

Shares of NASDAQ:CTAS opened at $215.20 on Friday. The firm has a fifty day moving average price of $221.09 and a two-hundred day moving average price of $194.94. The company has a market cap of $86.79 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a one year low of $136.50 and a one year high of $227.35.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $3.70 earnings per share. Analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its board has initiated a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

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.