Terra Nova Asset Management LLC Buys 92 Shares of Cintas Co. (NASDAQ:CTAS)

Terra Nova Asset Management LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 928 shares of the business services provider’s stock after purchasing an additional 92 shares during the period. Terra Nova Asset Management LLC’s holdings in Cintas were worth $560,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CTAS. BlackRock Inc. increased its position in Cintas by 0.6% in the 2nd quarter. BlackRock Inc. now owns 7,991,359 shares of the business services provider’s stock valued at $3,972,345,000 after buying an additional 46,864 shares in the last quarter. State Street Corp increased its holdings in shares of Cintas by 0.4% during the second quarter. State Street Corp now owns 3,782,333 shares of the business services provider’s stock valued at $1,880,122,000 after acquiring an additional 14,694 shares in the last quarter. FMR LLC increased its stake in Cintas by 5.5% during the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after purchasing an additional 123,468 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cintas by 2.3% during the first quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock worth $863,795,000 after buying an additional 41,237 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Cintas by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,419,068 shares of the business services provider’s stock valued at $656,575,000 after buying an additional 115,712 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of analyst reports. Barclays upped their target price on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $649.60.

Cintas Stock Up 0.2 %

Cintas stock opened at $687.03 on Friday. The firm has a 50 day simple moving average of $620.99 and a 200 day simple moving average of $567.53. The company has a current ratio of 2.38, a quick ratio of 1.89 and a debt-to-equity ratio of 0.58. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The firm has a market capitalization of $69.64 billion, a price-to-earnings ratio of 47.45, a P/E/G ratio of 3.85 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.26. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.14 earnings per share. On average, analysts predict that Cintas Co. will post 15.05 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were given a $1.35 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $5.40 annualized dividend and a yield of 0.79%. Cintas’s payout ratio is currently 37.29%.

About Cintas

Cintas Corporation provides 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.