Natixis Advisors LLC Boosts Stake in Cintas Co. (NASDAQ:CTAS)

Natixis Advisors LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 320.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 413,935 shares of the business services provider’s stock after buying an additional 315,471 shares during the period. Natixis Advisors LLC’s holdings in Cintas were worth $85,221,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its position in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after buying an additional 14 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares during the last quarter. Field & Main Bank raised its position in Cintas by 25.0% during the second 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. Drive Wealth Management LLC raised its position in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association lifted its stake in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS opened at $215.20 on Friday. The company has a market capitalization of $86.79 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The business’s fifty day simple moving average is $221.49 and its 200-day simple moving average is $195.50.

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, 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 for 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. On average, equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its board has authorized a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped 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. Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Finally, Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.