Nicholson Wealth Management Group LLC Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Nicholson Wealth Management Group LLC increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 55.0% in the fourth quarter, HoldingsChannel reports. The firm owned 5,511 shares of the business services provider’s stock after buying an additional 1,956 shares during the period. Nicholson Wealth Management Group LLC’s holdings in Cintas were worth $1,007,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its stake in Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares during the last quarter. FMR LLC raised its stake in Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC raised its stake in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after buying an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. raised its stake in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after buying an additional 1,904,926 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 1.1 %

Cintas stock opened at $205.93 on Friday. The firm has a market cap of $83.10 billion, a price-to-earnings ratio of 49.65, a price-to-earnings-growth ratio of 3.93 and a beta of 1.38. Cintas Co. has a 52 week low of $153.45 and a 52 week high of $228.12. The business’s 50-day moving average price is $196.67 and its 200 day moving average price is $207.94. 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 (NASDAQ:CTAS) last posted 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 for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $3.61 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is currently 37.61%.

Analyst Ratings Changes

A number of research firms have commented on CTAS. UBS Group decreased their price target on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note 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 research note on Thursday, December 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $198.46.

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.