Contravisory Investment Management Inc. Lowers Stock Holdings in Cintas Corporation $CTAS

Contravisory Investment Management Inc. reduced its position in Cintas Corporation (NASDAQ:CTAS) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,609 shares of the business services provider’s stock after selling 4,267 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Cintas were worth $7,883,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CTAS. Nemes Rush Group LLC purchased a new position in Cintas in the fourth quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of Cintas during the 4th quarter worth about $25,000. Camelot Portfolios LLC purchased a new position in shares of Cintas in the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Cintas in the 4th quarter valued at about $26,000. Finally, Key Capital Management INC acquired a new stake in shares of Cintas during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of a number of research reports. Weiss Ratings cut shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Truist Financial reduced their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Citigroup reduced their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, Stifel Nicolaus decreased their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $215.92.

Cintas Trading Down 1.1%

NASDAQ:CTAS opened at $169.09 on Friday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $173.04 and its 200-day simple moving average is $183.44. The firm has a market cap of $67.65 billion, a P/E ratio of 47.77, a PEG ratio of 2.72 and a beta of 0.94.

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, hitting the consensus estimate of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. Equities analysts anticipate that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.1%. Cintas’s payout ratio is presently 50.85%.

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.