Cassady Schiller Wealth Management LLC Has $5.05 Million Position in Cintas Co. (NASDAQ:CTAS)

Cassady Schiller Wealth Management LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, HoldingsChannel reports. The firm owned 24,527 shares of the business services provider’s stock after buying an additional 18,395 shares during the period. Cintas comprises approximately 1.8% of Cassady Schiller Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Cassady Schiller Wealth Management LLC’s holdings in Cintas were worth $5,050,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CTAS. Impax Asset Management Group plc increased its holdings in Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its position in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after buying an additional 1,222,500 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Cintas by 211.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock valued at $234,826,000 after acquiring an additional 774,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Cintas by 291.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after acquiring an additional 662,431 shares during the period. Finally, Congress Asset Management Co. boosted its stake in Cintas by 295.6% during the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after acquiring an additional 586,271 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Morgan Stanley upped their price objective 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. Finally, Wells Fargo & Company lifted 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 assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of CTAS opened at $215.20 on Friday. The stock has a 50 day moving average of $221.49 and a 200 day moving average of $195.50. The company has a market capitalization of $86.79 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. Cintas Co. has a 12 month low of $136.50 and a 12 month high of $227.35. 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 (NASDAQ:CTAS) last announced 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. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $3.70 EPS. As a group, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its board has approved a stock 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 buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 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.