Stanley Laman Group Ltd. Acquires New Holdings in Cintas Co. (NASDAQ:CTAS)

Stanley Laman Group Ltd. acquired a new stake in Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 356 shares of the business services provider’s stock, valued at approximately $215,000.

A number of other institutional investors have also made changes to their positions in CTAS. Simplicity Solutions LLC grew its holdings in Cintas by 117.7% in the 4th quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after buying an additional 1,743 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Cintas during the 4th quarter worth approximately $8,015,000. Comerica Bank acquired a new stake in shares of Cintas during the 3rd quarter worth approximately $10,866,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cintas by 91.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock worth $29,315,000 after purchasing an additional 23,197 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after purchasing an additional 85,662 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

CTAS traded up $0.98 during trading on Friday, hitting $666.23. The company’s stock had a trading volume of 274,164 shares, compared to its average volume of 350,293. The firm’s 50 day moving average price is $648.22 and its two-hundred day moving average price is $593.38. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. Cintas Co. has a 12 month low of $440.01 and a 12 month high of $704.84. The stock has a market capitalization of $67.54 billion, a price-to-earnings ratio of 46.01, a price-to-earnings-growth ratio of 3.89 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the firm earned $3.14 earnings per share. Cintas’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.81%. Cintas’s payout ratio is presently 37.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTAS shares. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. The Goldman Sachs Group lifted their price objective on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Truist Financial boosted their price target on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Robert W. Baird boosted their price target on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Company Profile

Cintas Corporation provides 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.