Maryland State Retirement & Pension System Sells 1,294 Shares of Cintas Co. (NASDAQ:CTAS)

Maryland State Retirement & Pension System lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,466 shares of the business services provider’s stock after selling 1,294 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cintas were worth $3,374,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Claro Advisors LLC acquired a new stake in shares of Cintas in the 3rd quarter valued at approximately $251,000. Thrivent Financial for Lutherans lifted 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 valued at $4,317,000 after purchasing an additional 16,107 shares during the last quarter. MAI Capital Management grew its holdings in Cintas by 173.5% during the third quarter. MAI Capital Management now owns 8,789 shares of the business services provider’s stock worth $1,810,000 after purchasing an additional 5,575 shares during the period. Quest Partners LLC increased its position in Cintas by 70.4% during the third quarter. Quest Partners LLC now owns 5,172 shares of the business services provider’s stock worth $1,065,000 after buying an additional 2,137 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in Cintas by 428.7% in the third quarter. Pathstone Holdings LLC now owns 60,332 shares of the business services provider’s stock valued at $12,421,000 after buying an additional 48,921 shares during the period. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTAS. UBS Group decreased their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Citigroup assumed coverage on shares of Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Truist Financial reduced their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $199.79.

Cintas Trading Up 1.5 %

Shares of CTAS stock opened at $196.37 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a fifty-two week low of $156.83 and a fifty-two week high of $228.12. The company has a market cap of $79.24 billion, a PE ratio of 47.35, a P/E/G ratio of 3.98 and a beta of 1.41. The stock’s fifty day moving average price is $200.39 and its two-hundred day moving average price is $209.02.

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

Cintas Announces Dividend

The business also recently announced 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 of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.79%. Cintas’s payout ratio is presently 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.