ClearAlpha Technologies LP Takes $254,000 Position in Cintas Co. (NASDAQ:CTAS)

ClearAlpha Technologies LP bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,236 shares of the business services provider’s stock, valued at approximately $254,000.

Several other institutional investors also recently bought and sold shares of CTAS. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Cintas in the second quarter valued at $27,000. Meeder Asset Management Inc. raised its position in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after acquiring an additional 34 shares during the period. Crewe Advisors LLC raised its position in shares of Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after acquiring an additional 32 shares during the period. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Cintas during the 2nd quarter worth about $51,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Down 1.4 %

Shares of Cintas stock opened at $222.64 on Tuesday. Cintas Co. has a 1-year low of $136.87 and a 1-year high of $228.12. The stock has a market cap of $89.79 billion, a P/E ratio of 56.22, a P/E/G ratio of 4.45 and a beta of 1.32. 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’s 50 day simple moving average is $212.76 and its 200-day simple moving average is $199.24.

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

Cintas Dividend Announcement

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

Analyst Ratings Changes

CTAS has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. UBS Group increased their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Truist Financial upped their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $199.63.

Cintas Company Profile

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.