Pittenger & Anderson Inc. Has $26.88 Million Stake in Cintas Co. (NASDAQ:CTAS)

Pittenger & Anderson Inc. reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,601 shares of the business services provider’s stock after selling 23 shares during the period. Cintas accounts for approximately 1.2% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 17th biggest position. Pittenger & Anderson Inc.’s holdings in Cintas were worth $26,879,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CTAS. Invesco Ltd. raised its position in shares of Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after acquiring an additional 151,783 shares in the last quarter. American Century Companies Inc. raised its position in shares of Cintas by 40.7% in the 3rd quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock worth $235,009,000 after acquiring an additional 141,375 shares in the last quarter. FMR LLC raised its position in shares of Cintas by 5.5% in the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after acquiring an additional 123,468 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Cintas by 257.8% in the 3rd quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock valued at $69,978,000 after buying an additional 104,854 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Cintas by 16.6% in the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after buying an additional 85,662 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS traded up $3.45 during midday trading on Friday, reaching $668.70. The company’s stock had a trading volume of 100,521 shares, compared to its average volume of 348,076. Cintas Co. has a 12-month low of $440.01 and a 12-month high of $704.84. The firm has a 50 day moving average price of $647.19 and a 200-day moving average price of $592.24. The stock has a market capitalization of $67.79 billion, a P/E ratio of 45.85, a PEG ratio of 3.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the business earned $3.14 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts predict that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on CTAS shares. Robert W. Baird raised their target price on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. UBS Group raised their target price on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Bank of America raised their target price on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Truist Financial raised their target price on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas 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.