NewEdge Wealth LLC Acquires 2,564 Shares of Cintas Co. (NASDAQ:CTAS)

NewEdge Wealth LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 8.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,137 shares of the business services provider’s stock after buying an additional 2,564 shares during the quarter. NewEdge Wealth LLC’s holdings in Cintas were worth $5,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management grew its position in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the period. Sound Income Strategies LLC bought a new position in shares of Cintas in the fourth quarter worth approximately $27,000. Addison Advisors LLC boosted its position in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of Cintas in the fourth quarter worth approximately $31,000. Finally, Quintet Private Bank Europe S.A. boosted its position in shares of Cintas by 357.1% in the third quarter. Quintet Private Bank Europe S.A. now owns 160 shares of the business services provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTAS shares. Truist Financial dropped their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. UBS Group dropped their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $199.79.

Cintas Price Performance

Cintas stock opened at $203.43 on Friday. The company has a market cap of $82.09 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 3.98 and a beta of 1.38. The firm’s fifty day moving average is $196.72 and its 200 day moving average is $208.56. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52-week low of $154.15 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm posted $3.61 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.