Prime Capital Investment Advisors LLC Cuts Holdings in Cintas Co. (NASDAQ:CTAS)

Prime Capital Investment Advisors LLC cut its stake in shares of Cintas Co. (NASDAQ:CTASFree Report) by 19.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,837 shares of the business services provider’s stock after selling 439 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Cintas were worth $884,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CTAS. Headlands Technologies LLC acquired a new position in Cintas during the third quarter valued at $244,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Cintas by 15.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,388 shares of the business services provider’s stock worth $8,364,000 after acquiring an additional 2,311 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Cintas by 100.3% in the third quarter. Canada Pension Plan Investment Board now owns 33,950 shares of the business services provider’s stock worth $16,330,000 after acquiring an additional 17,000 shares during the period. Herold Advisors Inc. raised its position in shares of Cintas by 35.9% in the third quarter. Herold Advisors Inc. now owns 5,136 shares of the business services provider’s stock worth $2,470,000 after acquiring an additional 1,356 shares during the period. Finally, Aptus Capital Advisors LLC raised its position in shares of Cintas by 18.9% in the third quarter. Aptus Capital Advisors LLC now owns 2,060 shares of the business services provider’s stock worth $991,000 after acquiring an additional 327 shares during the period. 62.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. JPMorgan Chase & Co. upped their price target on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Royal Bank of Canada upped their price target on shares of Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Truist Financial upped their price target on shares of Cintas from $645.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $560.57.

Read Our Latest Stock Analysis on CTAS

Insider Activity at Cintas

In other Cintas news, CFO J. Michael Hansen sold 9,774 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $596.91, for a total value of $5,834,198.34. Following the completion of the transaction, the chief financial officer now owns 37,732 shares of the company’s stock, valued at approximately $22,522,608.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 14.90% of the stock is owned by insiders.

Cintas Stock Performance

Cintas stock opened at $613.69 on Tuesday. The firm has a 50 day simple moving average of $589.74 and a 200-day simple moving average of $538.05. Cintas Co. has a 1-year low of $425.00 and a 1-year high of $626.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.24 and a quick ratio of 1.89. The stock has a market cap of $62.21 billion, a price-to-earnings ratio of 44.53, a price-to-earnings-growth ratio of 3.58 and a beta of 1.28.

Cintas (NASDAQ:CTASGet Free Report) last posted its quarterly earnings results on Thursday, December 21st. The business services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.12. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.12 EPS. On average, analysts expect that Cintas Co. will post 14.57 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 15th will be issued a $1.35 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $5.40 annualized dividend and a yield of 0.88%. Cintas’s dividend payout ratio (DPR) is presently 39.19%.

About Cintas

(Free Report)

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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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