Cintas Co. (NASDAQ:CTAS) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 31.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 23,643 shares of the business services provider’s stock after buying an additional 5,724 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Cintas were worth $4,320,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CTAS. OneDigital Investment Advisors LLC boosted its stake in Cintas by 278.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,646 shares of the business services provider’s stock worth $1,368,000 after buying an additional 4,888 shares during the last quarter. Empowered Funds LLC boosted its stake in Cintas by 373.6% in the 3rd quarter. Empowered Funds LLC now owns 19,028 shares of the business services provider’s stock worth $3,917,000 after buying an additional 15,010 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Cintas by 287.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 42,198 shares of the business services provider’s stock worth $8,688,000 after buying an additional 31,319 shares during the last quarter. Claro Advisors LLC acquired a new stake in Cintas in the 3rd quarter worth about $251,000. Finally, Thrivent Financial for Lutherans boosted its stake in Cintas by 331.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,970 shares of the business services provider’s stock worth $4,317,000 after buying an additional 16,107 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group cut their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley raised their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a 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 stock. According to MarketBeat, Cintas has a consensus rating of “Hold” and an average price target of $199.79.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $193.41 on Wednesday. Cintas Co. has a fifty-two week low of $155.89 and a fifty-two week high of $228.12. The business has a 50 day moving average price of $200.31 and a two-hundred day moving average price of $209.11. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $78.05 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

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

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

About Cintas

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.