Wealth Enhancement Advisory Services LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 3.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 18,424 shares of the business services provider’s stock after buying an additional 605 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cintas were worth $6,428,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP boosted its position in Cintas by 3.5% during the 4th quarter. First Trust Advisors LP now owns 85,988 shares of the business services provider’s stock worth $30,393,000 after buying an additional 2,947 shares during the period. California Public Employees Retirement System grew its stake in shares of Cintas by 4.1% in the fourth quarter. California Public Employees Retirement System now owns 212,201 shares of the business services provider’s stock worth $75,005,000 after purchasing an additional 8,343 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Cintas in the fourth quarter valued at $209,000. Baker Tilly Financial LLC bought a new position in Cintas during the 4th quarter worth $361,000. Finally, State of Wisconsin Investment Board lifted its holdings in Cintas by 19.7% during the 4th quarter. State of Wisconsin Investment Board now owns 100,542 shares of the business services provider’s stock worth $35,538,000 after buying an additional 16,556 shares during the period. 63.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. William Blair upgraded Cintas from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 16th. Morgan Stanley boosted their price target on shares of Cintas from $324.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $378.00.
Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, March 16th. The business services provider reported $2.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.15. Cintas had a net margin of 14.32% and a return on equity of 27.72%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. Cintas’s revenue was down 1.9% on a year-over-year basis. Equities analysts predict that Cintas Co. will post 9.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Saturday, May 15th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $3.00 annualized dividend and a dividend yield of 0.85%. Cintas’s dividend payout ratio is presently 36.99%.
In related news, CAO Michael Lawrence Thompson sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $207.98, for a total transaction of $519,950.00. Following the transaction, the chief accounting officer now directly owns 70,917 shares of the company’s stock, valued at approximately $14,749,317.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 15.80% of the company’s stock.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms.
Recommended Story: What is the quiet period?
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS).
Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.