Janney Montgomery Scott LLC Boosts Stake in Cintas Corporation $CTAS

Janney Montgomery Scott LLC increased its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 88,590 shares of the business services provider’s stock after acquiring an additional 4,236 shares during the period. Janney Montgomery Scott LLC’s holdings in Cintas were worth $14,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. One Capital Management LLC grew its holdings in Cintas by 0.9% in the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 53 shares during the period. Richardson Financial Services Inc. lifted its position in shares of Cintas by 1.1% during the 4th quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock valued at $951,000 after buying an additional 54 shares in the last quarter. Woodward Diversified Capital LLC lifted its position in shares of Cintas by 4.8% during the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock valued at $242,000 after buying an additional 59 shares in the last quarter. Mather Group LLC. grew its stake in Cintas by 1.4% in the 4th quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock valued at $824,000 after acquiring an additional 59 shares during the period. Finally, Ausdal Financial Partners Inc. grew its stake in Cintas by 2.8% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock valued at $510,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent analyst reports. Truist Financial decreased their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Stifel Nicolaus cut their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. UBS Group restated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings lowered shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, Bank of America lowered their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $211.25.

Cintas Trading Up 2.4%

Shares of CTAS stock opened at $174.23 on Thursday. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $226.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The stock’s fifty day moving average is $172.51 and its two-hundred day moving average is $183.05. The firm has a market capitalization of $69.71 billion, a P/E ratio of 49.22, a PEG ratio of 2.71 and a beta of 0.94.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is 50.85%.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 14.90% of the company’s stock.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.