Cintas Corporation (NASDAQ:CTAS) Stock Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 75.7% during the first quarter, HoldingsChannel.com reports. The firm owned 221,026 shares of the business services provider’s stock after acquiring an additional 95,244 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cintas were worth $45,428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the 4th quarter valued at approximately $29,000. IAG Wealth Partners LLC grew its position in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares in the last quarter. Meeder Asset Management Inc. grew its position in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after acquiring an additional 134 shares in the last quarter. OFI Invest Asset Management bought a new stake in Cintas in the fourth quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC bought a new stake in Cintas in the fourth quarter worth approximately $40,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the sale, the director now directly owns 27,029 shares of the company’s stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company’s stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Cintas Trading Down 0.8%

Shares of NASDAQ CTAS opened at $218.65 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $217.23 and a two-hundred day moving average of $205.56. Cintas Corporation has a 1-year low of $172.20 and a 1-year high of $229.24. The company has a market cap of $88.29 billion, a PE ratio of 50.64, a P/E/G ratio of 3.44 and a beta of 1.07.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. Cintas’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.84 EPS. As a group, equities analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas’s payout ratio is currently 36.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTAS. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $240.00 price objective (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Bank of America assumed coverage on Cintas in a research report on Thursday, April 10th. They set a “buy” rating and a $250.00 target price for the company. Finally, Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $215.81.

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.