United Asset Strategies Inc. Cuts Position in Cintas Co. (NASDAQ:CTAS)

United Asset Strategies Inc. lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,738 shares of the business services provider’s stock after selling 39 shares during the period. United Asset Strategies Inc.’s holdings in Cintas were worth $1,650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Simplicity Solutions LLC lifted its stake in Cintas by 117.7% in the fourth quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after purchasing an additional 1,743 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Cintas in the fourth quarter valued at approximately $8,015,000. Comerica Bank purchased a new position in Cintas in the third quarter valued at approximately $10,866,000. Nordea Investment Management AB lifted its stake in Cintas by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after purchasing an additional 85,662 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in Cintas by 8.6% in the third quarter. Zions Bancorporation N.A. now owns 3,461 shares of the business services provider’s stock valued at $1,665,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.3 %

Shares of NASDAQ:CTAS opened at $666.56 on Wednesday. Cintas Co. has a 52-week low of $438.59 and a 52-week high of $704.84. The firm has a fifty day moving average of $640.34 and a 200 day moving average of $584.89. The firm has a market capitalization of $67.57 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 3.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the business posted $3.14 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. As a group, research analysts anticipate that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.81%. Cintas’s payout ratio is 37.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial upped their price objective on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a report on Thursday, March 28th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Oppenheimer reissued a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Finally, Royal Bank of Canada upped their price target on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cintas has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Company Profile

Cintas Corporation provides 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.