Kestra Advisory Services LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS – Get Rating) by 38.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,184 shares of the business services provider’s stock after buying an additional 3,122 shares during the period. Kestra Advisory Services LLC’s holdings in Cintas were worth $5,051,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CTAS. Orion Portfolio Solutions LLC purchased a new position in shares of Cintas during the third quarter valued at about $224,000. Astoria Portfolio Advisors LLC. grew its position in shares of Cintas by 17.2% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 810 shares of the business services provider’s stock valued at $354,000 after purchasing an additional 119 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Cintas by 2.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 27,750 shares of the business services provider’s stock valued at $10,773,000 after purchasing an additional 594 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Cintas by 36.9% during the fourth quarter. HB Wealth Management LLC now owns 1,042 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 281 shares in the last quarter. Finally, NorthRock Partners LLC grew its position in shares of Cintas by 3.5% during the third quarter. NorthRock Partners LLC now owns 1,164 shares of the business services provider’s stock valued at $452,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 61.92% of the company’s stock.
Cintas Stock Up 0.7 %
Shares of NASDAQ CTAS opened at $461.98 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.10 and a quick ratio of 1.71. The company has a market cap of $46.98 billion, a P/E ratio of 37.08, a PEG ratio of 3.11 and a beta of 1.34. Cintas Co. has a 1 year low of $343.86 and a 1 year high of $470.23. The firm has a 50-day simple moving average of $443.28 and a two-hundred day simple moving average of $437.81.
Cintas Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, May 12th. Cintas’s dividend payout ratio is presently 36.92%.
Insider Activity
In other news, CFO J. Michael Hansen sold 1,618 shares of Cintas stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $441.85, for a total transaction of $714,913.30. Following the completion of the sale, the chief financial officer now owns 30,132 shares of the company’s stock, valued at $13,313,824.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CTAS. Wells Fargo & Company raised their price objective on Cintas from $393.00 to $450.00 and gave the company an “equal weight” rating in a research report on Thursday, December 22nd. Jefferies Financial Group lowered Cintas from a “buy” rating to a “hold” rating and cut their price objective for the company from $512.00 to $487.00 in a research report on Friday, March 31st. Argus increased their price target on shares of Cintas from $500.00 to $510.00 in a report on Thursday, March 30th. Robert W. Baird increased their price target on shares of Cintas from $500.00 to $512.00 and gave the company an “outperform” rating in a report on Thursday, March 30th. Finally, Bank of America increased their price target on shares of Cintas from $513.00 to $523.00 and gave the company a “neutral” rating in a report on Thursday, March 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $497.73.
About Cintas
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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