HB Wealth Management LLC Increases Position in Cintas Co. (NASDAQ:CTAS)

Posted by Defense World Staff on Apr 1st, 2023

HB Wealth Management LLC raised its position in Cintas Co. (NASDAQ:CTAS – Get Rating) by 36.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,042 shares of the business services provider’s stock after purchasing an additional 281 shares during the quarter. HB Wealth Management LLC’s holdings in Cintas were worth $471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Alliance LLC purchased a new stake in Cintas in the fourth quarter valued at approximately $27,000. Baron Silver Stevens Financial Advisors LLC purchased a new stake in Cintas in the third quarter valued at approximately $204,000. HWG Holdings LP purchased a new stake in Cintas in the third quarter valued at approximately $27,000. Quent Capital LLC grew its stake in shares of Cintas by 169.2% in the third quarter. Quent Capital LLC now owns 70 shares of the business services provider’s stock worth $27,000 after acquiring an additional 44 shares in the last quarter. Finally, Asset Dedication LLC acquired a new position in shares of Cintas in the third quarter worth $29,000. Hedge funds and other institutional investors own 61.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CTAS shares. Stifel Nicolaus boosted their price target on shares of Cintas from $503.00 to $512.00 in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $525.00 target price on shares of Cintas in a research note on Thursday. Jefferies Financial Group downgraded shares of Cintas from a “buy” rating to a “hold” rating and lowered their target price for the stock from $512.00 to $487.00 in a research note on Friday. Wells Fargo & Company boosted their target price on shares of Cintas from $393.00 to $450.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 22nd. Finally, StockNews.com assumed coverage on shares of Cintas in a research note on Thursday, March 16th. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $497.73.

Insider Activity

In other news, CAO Michael Lawrence Thompson sold 14,795 shares of the company’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $444.98, for a total value of $6,583,479.10. Following the completion of the sale, the chief accounting officer now directly owns 23,318 shares of the company’s stock, valued at $10,376,043.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO J. Michael Hansen sold 1,618 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $441.85, for a total value of $714,913.30. Following the completion of the sale, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at $13,313,824.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael Lawrence Thompson sold 14,795 shares of the stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $444.98, for a total transaction of $6,583,479.10. Following the transaction, the chief accounting officer now directly owns 23,318 shares of the company’s stock, valued at $10,376,043.64. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $462.68 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.10 and a quick ratio of 1.53. Cintas Co. has a 1 year low of $343.86 and a 1 year high of $470.23. The company has a market capitalization of $47.02 billion, a PE ratio of 37.13, a P/E/G ratio of 3.25 and a beta of 1.34. The company has a fifty day moving average of $440.54 and a two-hundred day moving average of $433.32.

Cintas (NASDAQ:CTAS – Get Rating) last released its quarterly earnings data on Wednesday, March 29th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.13. Cintas had a net margin of 15.06% and a return on equity of 38.12%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the firm posted $2.69 earnings per share. Cintas’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that Cintas Co. will post 12.8 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, February 14th. This represents a $4.60 annualized dividend and a yield of 0.99%. Cintas’s dividend payout ratio is presently 36.92%.

Cintas Profile

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Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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