Envestnet Portfolio Solutions Inc. Sells 6,716 Shares of Cintas Corporation $CTAS

Envestnet Portfolio Solutions Inc. lowered its position in Cintas Corporation (NASDAQ:CTAS) by 54.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,731 shares of the business services provider’s stock after selling 6,716 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Cintas were worth $1,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after acquiring an additional 108 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after acquiring an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Cintas in the 2nd quarter worth approximately $625,000. Treasurer of the State of North Carolina boosted its holdings in shares of Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after acquiring an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after acquiring an additional 31,068 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of Cintas stock opened at $172.93 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm has a market cap of $69.19 billion, a P/E ratio of 48.85, a P/E/G ratio of 3.04 and a beta of 0.96. The firm has a 50 day simple moving average of $174.93 and a 200 day simple moving average of $185.30. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $229.24.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. Sell-side analysts predict that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 14.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings downgraded Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a report on Wednesday, March 11th. Bank of America assumed coverage on Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price on the stock. Finally, UBS Group reissued a “buy” rating on shares of Cintas in a report on Thursday, March 12th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $215.17.

Cintas 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.