Truist Financial Corp Has $7.72 Million Stake in Cintas Co. (NASDAQ:CTAS)

Truist Financial Corp lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,238 shares of the business services provider’s stock after acquiring an additional 4,447 shares during the quarter. Truist Financial Corp’s holdings in Cintas were worth $7,717,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in shares of Cintas by 3.6% during the 4th quarter. CIBC Asset Management Inc now owns 122,390 shares of the business services provider’s stock valued at $22,361,000 after acquiring an additional 4,239 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Cintas by 7.5% during the 4th quarter. Sanctuary Advisors LLC now owns 61,744 shares of the business services provider’s stock worth $12,483,000 after buying an additional 4,281 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in Cintas by 116.3% during the 4th quarter. Catalyst Capital Advisors LLC now owns 675 shares of the business services provider’s stock worth $123,000 after buying an additional 363 shares during the period. Principal Financial Group Inc. lifted its holdings in Cintas by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 514,928 shares of the business services provider’s stock worth $94,077,000 after buying an additional 11,406 shares during the period. Finally, Mainsail Asset Management LLC lifted its holdings in Cintas by 16.3% during the 4th quarter. Mainsail Asset Management LLC now owns 107,809 shares of the business services provider’s stock worth $19,697,000 after buying an additional 15,118 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of Cintas stock opened at $204.43 on Friday. Cintas Co. has a one year low of $154.15 and a one year high of $228.12. The firm has a market capitalization of $82.50 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 4.02 and a beta of 1.38. The business has a 50-day simple moving average of $196.53 and a 200 day simple moving average of $208.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the company posted $3.61 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.61%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTAS shares. Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial cut their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Robert W. Baird cut their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $198.46.

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.