Morse Asset Management Inc Has $4.39 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Morse Asset Management Inc boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 301.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,309 shares of the business services provider’s stock after buying an additional 15,999 shares during the quarter. Cintas makes up 0.9% of Morse Asset Management Inc’s holdings, making the stock its 29th biggest holding. Morse Asset Management Inc’s holdings in Cintas were worth $4,387,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its position in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Meeder Asset Management Inc. lifted its stake 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 boosted its holdings in Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in Cintas during the 2nd quarter valued at approximately $51,000. Finally, Field & Main Bank increased its position in Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CTAS shares. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Robert W. Baird raised their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Barclays boosted their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Truist Financial increased their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Up 0.0 %

Shares of Cintas stock opened at $222.65 on Wednesday. The firm has a market cap of $89.79 billion, a PE ratio of 56.22, a P/E/G ratio of 4.38 and a beta of 1.33. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $228.12. 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 fifty day moving average price of $213.49 and a 200-day moving average price of $199.94.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 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 business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

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

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.