First American Bank Trims Stock Position in Cintas Corporation $CTAS

First American Bank lessened its position in shares of Cintas Corporation (NASDAQ:CTAS) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 89,461 shares of the business services provider’s stock after selling 4,412 shares during the period. Cintas makes up approximately 1.0% of First American Bank’s holdings, making the stock its 22nd largest holding. First American Bank’s holdings in Cintas were worth $16,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Cintas by 1.5% in the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after purchasing an additional 564,487 shares during the period. State Street Corp boosted its stake in Cintas by 0.5% during the second quarter. State Street Corp now owns 15,118,190 shares of the business services provider’s stock valued at $3,369,391,000 after buying an additional 82,029 shares during the period. Nordea Investment Management AB grew its position in Cintas by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock worth $517,466,000 after buying an additional 158,785 shares in the last quarter. Ameriprise Financial Inc. grew its position in Cintas by 0.5% during the third quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock worth $524,460,000 after buying an additional 12,841 shares in the last quarter. Finally, Amundi increased its stake in Cintas by 39.0% in the 3rd quarter. Amundi now owns 2,223,411 shares of the business services provider’s stock worth $442,548,000 after acquiring an additional 623,770 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley lowered their price target on Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $245.00 in a research report on Wednesday, January 14th. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Wednesday, March 11th. Bank of America initiated coverage on shares of Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price for the company. Finally, Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $215.17.

Cintas Stock Performance

Shares of CTAS stock opened at $174.34 on Friday. The business has a 50-day moving average price of $190.70 and a two-hundred day moving average price of $190.50. Cintas Corporation has a 12-month low of $165.60 and a 12-month high of $229.24. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a market cap of $69.72 billion, a P/E ratio of 49.25, a price-to-earnings-growth ratio of 3.12 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 EPS. Equities analysts anticipate that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 50.85%.

About Cintas

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.