Visionary Asset Management Inc. Purchases Shares of 1,658 Cintas Corporation (CTAS)
Visionary Asset Management Inc. purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,658 shares of the business services provider’s stock, valued at approximately $239,000.
Several other hedge funds have also recently added to or reduced their stakes in CTAS. Janus Henderson Group PLC increased its stake in Cintas by 10,719.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,113,279 shares of the business services provider’s stock valued at $140,318,000 after buying an additional 1,102,989 shares during the period. Point72 Asset Management L.P. acquired a new position in Cintas in the 3rd quarter valued at approximately $61,754,000. Artisan Partners Limited Partnership increased its stake in Cintas by 29.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,771,864 shares of the business services provider’s stock valued at $255,645,000 after buying an additional 398,874 shares during the period. FMR LLC increased its stake in Cintas by 20.3% in the 2nd quarter. FMR LLC now owns 1,705,533 shares of the business services provider’s stock valued at $214,965,000 after buying an additional 288,029 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Cintas by 412.4% in the 2nd quarter. Renaissance Technologies LLC now owns 341,068 shares of the business services provider’s stock valued at $42,988,000 after buying an additional 274,500 shares during the period. Institutional investors and hedge funds own 66.85% of the company’s stock.
Several research firms have weighed in on CTAS. BidaskClub upgraded shares of Cintas from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Zacks Investment Research upgraded shares of Cintas from a “hold” rating to a “buy” rating and set a $168.00 price objective on the stock in a research note on Tuesday, October 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $145.00 price objective on shares of Cintas in a research note on Monday, November 20th. Robert W. Baird reiterated an “outperform” rating and issued a $165.00 price objective (up previously from $152.00) on shares of Cintas in a research note on Thursday, September 28th. Finally, Oppenheimer reiterated a “hold” rating on shares of Cintas in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $144.67.
Cintas Corporation (NASDAQ:CTAS) opened at $158.00 on Friday. Cintas Corporation has a 12 month low of $112.96 and a 12 month high of $159.83. The company has a market cap of $16,720.62, a price-to-earnings ratio of 31.97, a PEG ratio of 2.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.57 and a current ratio of 1.84.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.18. Cintas had a net margin of 9.79% and a return on equity of 23.71%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Cintas’s quarterly revenue was up 27.2% on a year-over-year basis. research analysts forecast that Cintas Corporation will post 5.36 earnings per share for the current year.
The firm also recently declared an annual dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 10th were paid a dividend of $1.62 per share. This is a positive change from Cintas’s previous annual dividend of $1.33. The ex-dividend date was Thursday, November 9th. This represents a dividend yield of 1.07%. Cintas’s dividend payout ratio is 31.89%.
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Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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