Vestmark Advisory Solutions Inc. raised its position in Cintas Co. (NASDAQ:CTAS – Get Rating) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,846 shares of the business services provider’s stock after purchasing an additional 233 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Cintas were worth $2,189,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in shares of Cintas during the 3rd quarter worth about $27,000. Quent Capital LLC grew its position in Cintas by 169.2% in the third quarter. Quent Capital LLC now owns 70 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in Cintas in the fourth quarter valued at approximately $27,000. Asset Dedication LLC acquired a new stake in shares of Cintas during the third quarter worth approximately $29,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Cintas by 680.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 78 shares of the business services provider’s stock worth $35,000 after buying an additional 68 shares in the last quarter. 61.92% of the stock is currently owned by hedge funds and other institutional investors.
Cintas Stock Performance
CTAS stock opened at $462.68 on Friday. The company has a market capitalization of $47.02 billion, a P/E ratio of 37.13, a PEG ratio of 3.25 and a beta of 1.34. The company has a 50-day simple moving average of $440.54 and a 200 day simple moving average of $433.32. Cintas Co. has a fifty-two week low of $343.86 and a fifty-two week high of $470.23. The company has a quick ratio of 1.53, a current ratio of 2.10 and a debt-to-equity ratio of 0.68.
Cintas Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were issued a dividend of $1.15 per share. 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 payout ratio is presently 36.92%.
Analyst Ratings Changes
A number of analysts have recently weighed in on CTAS shares. Wells Fargo & Company raised their price target on shares of Cintas from $393.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 22nd. Argus raised their price objective on Cintas from $500.00 to $510.00 in a research note on Thursday. Robert W. Baird raised their price objective on Cintas from $500.00 to $512.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America raised their price objective on Cintas from $513.00 to $523.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their target price on Cintas from $503.00 to $512.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and an average price target of $497.73.
Insiders Place Their Bets
In other news, CAO Michael Lawrence Thompson sold 14,795 shares of the company’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $444.98, for a total value of $6,583,479.10. Following the transaction, the chief accounting officer now owns 23,318 shares in the company, valued at approximately $10,376,043.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cintas news, CAO Michael Lawrence Thompson sold 14,795 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer now owns 23,318 shares of the company’s stock, valued at $10,376,043.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO J. Michael Hansen sold 1,618 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $441.85, for a total value of $714,913.30. Following the sale, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at approximately $13,313,824.20. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.
Cintas Profile
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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