Diversify Wealth Management LLC Invests $2.33 Million in Cintas Corporation $CTAS

Diversify Wealth Management LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,377 shares of the business services provider’s stock, valued at approximately $2,327,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. Brighton Jones LLC boosted its holdings in Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 108 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas during the second quarter worth approximately $625,000. Treasurer of the State of North Carolina raised its holdings in Cintas by 20.3% during the second 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 purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in shares of Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after buying an additional 31,068 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 2.3%

NASDAQ CTAS opened at $183.75 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a market cap of $73.52 billion, a PE ratio of 51.91, a P/E/G ratio of 2.86 and a beta of 0.94. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The firm’s fifty day moving average is $173.37 and its two-hundred day moving average is $182.58.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTAS. Bank of America lowered their target price on shares of Cintas from $215.00 to $200.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Truist Financial cut their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Citigroup decreased their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $211.25.

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 dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 14.90% of the company’s stock.

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.