UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $519.42 Million Stake in Cintas Co. (NASDAQ:CTAS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 308.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,522,921 shares of the business services provider’s stock after purchasing an additional 1,904,926 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.63% of Cintas worth $519,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Atria Investments Inc lifted its holdings in shares of Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after acquiring an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after acquiring an additional 86,460 shares during the period. Creative Planning lifted its holdings in shares of Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares during the period. Western Financial Corp CA lifted its holdings in shares of Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after acquiring an additional 10,177 shares during the period. Finally, Portside Wealth Group LLC lifted its holdings in shares of Cintas by 361.9% during the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock worth $287,000 after acquiring an additional 1,093 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 1.1 %

Shares of NASDAQ:CTAS opened at $224.05 on Friday. Cintas Co. has a one year low of $136.87 and a one year high of $228.12. The company has a 50 day moving average of $212.33 and a 200-day moving average of $198.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market cap of $90.36 billion, a price-to-earnings ratio of 56.58, a P/E/G ratio of 4.41 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the company earned $3.70 EPS. Cintas’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is 39.39%.

About Cintas

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.