369 Shares in Cintas Co. (NASDAQ:CTAS) Bought by Waldron Private Wealth LLC

Waldron Private Wealth LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 369 shares of the business services provider’s stock, valued at approximately $222,000.

Several other hedge funds also recently made changes to their positions in CTAS. Simplicity Solutions LLC lifted its stake in shares of Cintas by 117.7% in the fourth quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after purchasing an additional 1,743 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Cintas during the 4th quarter valued at approximately $8,015,000. Comerica Bank purchased a new stake in shares of Cintas during the 3rd quarter worth approximately $10,866,000. Nordea Investment Management AB grew its holdings in shares of Cintas by 16.6% in the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after acquiring an additional 85,662 shares during the period. Finally, Zions Bancorporation N.A. increased its stake in Cintas by 8.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 3,461 shares of the business services provider’s stock valued at $1,665,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of several research reports. Oppenheimer reissued a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Truist Financial increased their price objective on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. UBS Group upped their price target on shares of Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Bank of America raised their price objective on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Stock Performance

NASDAQ CTAS opened at $666.56 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The firm has a market capitalization of $67.57 billion, a P/E ratio of 46.03, a P/E/G ratio of 3.91 and a beta of 1.27. The business’s 50-day simple moving average is $640.34 and its 200-day simple moving average is $584.89.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the company posted $3.14 earnings per share. Cintas’s revenue was up 9.9% compared to the same quarter last year. Equities analysts predict that Cintas Co. will post 14.96 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Cintas Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.