Corient Private Wealth LLC Lowers Position in Cintas Co. (NASDAQ:CTAS)

Corient Private Wealth LLC trimmed its position in Cintas Co. (NASDAQ:CTAS) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,215 shares of the business services provider’s stock after selling 5,344 shares during the period. Corient Private Wealth LLC’s holdings in Cintas were worth $30,185,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Sound Income Strategies LLC bought a new position in shares of Cintas in the fourth quarter worth approximately $27,000. Endeavor Private Wealth Inc. purchased a new stake in Cintas during the 4th quarter valued at $31,000. IAG Wealth Partners LLC lifted its holdings in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas in the 4th quarter worth $34,000. Finally, OFI Invest Asset Management bought a new stake in shares of Cintas in the fourth quarter worth $37,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of several research reports. The Goldman Sachs Group reduced their price target 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. Morgan Stanley lifted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Finally, Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $199.79.

Cintas Stock Up 1.2 %

Shares of CTAS stock opened at $195.17 on Tuesday. The stock has a market cap of $78.76 billion, a P/E ratio of 47.06, a PEG ratio of 3.98 and a beta of 1.41. The company’s fifty day simple moving average is $200.22 and its two-hundred day simple moving average is $209.17. 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 $155.89 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS 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 company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company earned $3.61 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio 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.