Congress Asset Management Co. Has $38.15 Million Position in Cintas Corporation $CTAS

Congress Asset Management Co. lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 73.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 202,855 shares of the business services provider’s stock after selling 571,241 shares during the quarter. Congress Asset Management Co.’s holdings in Cintas were worth $38,151,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CTAS. Triumph Capital Management acquired a new position in Cintas in the 3rd quarter worth about $29,000. Alpine Bank Wealth Management raised its position in Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Cintas during the fourth quarter valued at about $34,000. WPG Advisers LLC boosted its stake in shares of Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Cintas by 61.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 189 shares of the business services provider’s stock worth $36,000 after purchasing an additional 72 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS stock opened at $178.13 on Wednesday. The firm has a 50 day moving average of $194.42 and a 200-day moving average of $192.08. The company has a market cap of $71.23 billion, a price-to-earnings ratio of 51.93, a price-to-earnings-growth ratio of 3.27 and a beta of 0.95. The company has a quick ratio of 1.49, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. Cintas Corporation has a 52 week low of $177.53 and a 52 week high of $229.24.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 13th. Cintas’s dividend payout ratio (DPR) is 52.48%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CTAS. Bank of America started coverage on shares of Cintas in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target for the company. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. UBS Group reissued a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Finally, Morgan Stanley lowered their target price on Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.