Signaturefd LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Posted by Defense World Staff on Apr 14th, 2023

Signaturefd LLC increased its position in Cintas Co. (NASDAQ:CTAS – Get Rating) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,387 shares of the business services provider’s stock after acquiring an additional 107 shares during the quarter. Signaturefd LLC’s holdings in Cintas were worth $626,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Cintas by 5.2% in the third quarter. BlackRock Inc. now owns 7,579,704 shares of the business services provider’s stock valued at $2,942,364,000 after acquiring an additional 375,669 shares during the period. Royal Bank of Canada lifted its position in Cintas by 5.2% during the first quarter. Royal Bank of Canada now owns 1,163,413 shares of the business services provider’s stock valued at $494,904,000 after purchasing an additional 57,674 shares during the last quarter. Northern Trust Corp lifted its position in Cintas by 0.4% during the first quarter. Northern Trust Corp now owns 943,641 shares of the business services provider’s stock valued at $401,416,000 after purchasing an additional 3,438 shares during the last quarter. Invesco Ltd. lifted its position in Cintas by 9.6% during the first quarter. Invesco Ltd. now owns 803,504 shares of the business services provider’s stock valued at $341,802,000 after purchasing an additional 70,120 shares during the last quarter. Finally, Pictet Asset Management SA lifted its position in Cintas by 17.5% during the third quarter. Pictet Asset Management SA now owns 620,717 shares of the business services provider’s stock valued at $240,018,000 after purchasing an additional 92,226 shares during the last quarter. 61.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cintas

In other Cintas news, CFO J. Michael Hansen sold 1,618 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $441.85, for a total transaction of $714,913.30. Following the transaction, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at approximately $13,313,824.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lowered shares of Cintas from a “buy” rating to a “hold” rating and dropped their target price for the company from $512.00 to $487.00 in a research report on Friday, March 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cintas from $490.00 to $507.00 and gave the company a “buy” rating in a research report on Thursday, December 22nd. Wells Fargo & Company lifted their target price on shares of Cintas from $393.00 to $450.00 and gave the company an “equal weight” rating in a research report on Thursday, December 22nd. Stifel Nicolaus lifted their target price on shares of Cintas from $503.00 to $512.00 in a research report on Thursday, March 30th. Finally, Bank of America boosted their price objective on shares of Cintas from $513.00 to $523.00 and gave the stock a “neutral” rating in a report on Thursday, March 30th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.73.

Cintas Stock Up 1.3 %

Shares of NASDAQ CTAS opened at $459.78 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.10 and a debt-to-equity ratio of 0.68. Cintas Co. has a 52 week low of $343.86 and a 52 week high of $470.23. The firm’s fifty day moving average is $442.96 and its 200 day moving average is $436.64. The company has a market cap of $46.76 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.05 and a beta of 1.34.

Cintas (NASDAQ:CTAS – Get Rating) last issued its earnings results on Wednesday, March 29th. The business services provider reported $3.14 EPS for the quarter, topping the consensus estimate of $3.01 by $0.13. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.15 billion. Cintas had a net margin of 15.06% and a return on equity of 38.12%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.69 earnings per share. On average, equities research analysts expect that Cintas Co. will post 12.84 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, May 12th. Cintas’s payout ratio is currently 36.92%.

Cintas Company Profile

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Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.