Spire Wealth Management Buys 4,704 Shares of Cintas Corporation $CTAS

Spire Wealth Management grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 225.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,786 shares of the business services provider’s stock after purchasing an additional 4,704 shares during the period. Spire Wealth Management’s holdings in Cintas were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lineweaver Wealth Advisors LLC raised its stake in Cintas by 104.2% in the fourth quarter. Lineweaver Wealth Advisors LLC now owns 32,560 shares of the business services provider’s stock worth $6,124,000 after buying an additional 16,617 shares in the last quarter. Eastern Bank boosted its position in Cintas by 65.0% during the 4th quarter. Eastern Bank now owns 7,374 shares of the business services provider’s stock valued at $1,387,000 after acquiring an additional 2,906 shares in the last quarter. Woodward Diversified Capital LLC grew its holdings in shares of Cintas by 4.8% during the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock worth $242,000 after acquiring an additional 59 shares during the period. Fluent Financial LLC raised its position in shares of Cintas by 6.6% in the 4th quarter. Fluent Financial LLC now owns 4,212 shares of the business services provider’s stock worth $792,000 after acquiring an additional 259 shares in the last quarter. Finally, Oak Asset Management LLC lifted its stake in shares of Cintas by 0.7% in the 4th quarter. Oak Asset Management LLC now owns 9,350 shares of the business services provider’s stock valued at $1,758,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CTAS shares. Bank of America started coverage on Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target on the stock. Stifel Nicolaus lowered their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Wednesday, January 21st. Finally, Citigroup reiterated a “sell” rating and issued a $181.00 price target (up from $176.00) on shares of Cintas in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $216.92.

Cintas Price Performance

NASDAQ CTAS opened at $168.66 on Tuesday. Cintas Corporation has a one year low of $165.60 and a one year high of $229.24. The stock has a 50-day moving average of $192.41 and a 200 day moving average of $191.16. 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 company has a market capitalization of $67.45 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 2.97 and a beta of 0.95.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the firm posted $1.13 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were issued a $0.45 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.80 annualized dividend and a yield of 1.1%. Cintas’s dividend payout ratio (DPR) is currently 52.48%.

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.