Elevation Point Wealth Partners LLC Boosts Holdings in Cintas Corporation $CTAS

Elevation Point Wealth Partners LLC grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 798.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,379 shares of the business services provider’s stock after purchasing an additional 9,224 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Cintas were worth $1,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. One Capital Management LLC lifted its holdings in Cintas by 0.9% in the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock worth $1,159,000 after buying an additional 53 shares during the period. Richardson Financial Services Inc. boosted its position in Cintas by 1.1% during the 4th quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock valued at $951,000 after acquiring an additional 54 shares in the last quarter. Woodward Diversified Capital LLC boosted its position in Cintas by 4.8% during the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock valued at $242,000 after acquiring an additional 59 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Cintas by 1.4% during the 4th quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock worth $824,000 after acquiring an additional 59 shares during the period. Finally, Ausdal Financial Partners Inc. grew its holdings in shares of Cintas by 2.8% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock worth $510,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $181.37 on Monday. The stock has a fifty day simple moving average of $172.75 and a two-hundred day simple moving average of $182.96. The stock has a market capitalization of $72.56 billion, a price-to-earnings ratio of 51.23, a PEG ratio of 2.89 and a beta of 0.94. 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.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial lowered their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Stifel Nicolaus reduced their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. UBS Group reiterated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 11th. Finally, Bank of America dropped their target price on shares of Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $211.25.

Insider Activity

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

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.