NewEdge Wealth LLC Purchases 5,132 Shares of Cintas Corporation $CTAS

NewEdge Wealth LLC boosted its position in shares of Cintas Corporation (NASDAQ:CTAS) by 28.0% during the 4th quarter, HoldingsChannel reports. The fund owned 23,486 shares of the business services provider’s stock after buying an additional 5,132 shares during the quarter. NewEdge Wealth LLC’s holdings in Cintas were worth $4,417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Cintas by 2.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock valued at $20,501,000 after purchasing an additional 2,628 shares during the period. First Trust Advisors LP grew its stake in shares of Cintas by 2.5% in the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock valued at $84,909,000 after purchasing an additional 10,249 shares during the period. Prana Capital Management LP bought a new stake in shares of Cintas in the 3rd quarter valued at approximately $14,312,000. Vanguard Group Inc. grew its stake in shares of Cintas by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after purchasing an additional 564,487 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Cintas in the 4th quarter valued at approximately $15,736,000. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is currently owned by company insiders.

Cintas Stock Down 1.4%

NASDAQ CTAS opened at $164.67 on Tuesday. The firm has a market cap of $65.88 billion, a PE ratio of 46.52, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. Cintas Corporation has a one year low of $163.45 and a one year high of $229.24. The stock’s 50 day simple moving average is $180.56 and its 200 day simple moving average is $186.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 EPS. As a group, sell-side analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Cintas’s dividend payout ratio is 50.85%.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Stifel Nicolaus lowered their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. Argus upgraded Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 11th. Finally, UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and an average price target of $215.17.

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.