NewEdge Wealth LLC Has $3.51 Million Position in Cintas Corporation $CTAS

NewEdge Wealth LLC cut its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 11.7% in the first quarter, Holdings Channel reports. The fund owned 20,731 shares of the business services provider’s stock after selling 2,755 shares during the period. NewEdge Wealth LLC’s holdings in Cintas were worth $3,506,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Caledonia Investments PLC bought a new stake in Cintas during the 4th quarter worth approximately $33,287,000. Riverbridge Partners LLC boosted its stake in Cintas by 7.7% in the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after purchasing an additional 16,437 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cintas by 2,286.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock worth $138,536,000 after purchasing an additional 705,751 shares during the last quarter. Suncoast Equity Management grew its holdings in shares of Cintas by 53.7% during the fourth quarter. Suncoast Equity Management now owns 23,845 shares of the business services provider’s stock worth $4,485,000 after purchasing an additional 8,330 shares during the last quarter. Finally, SEB Asset Management AB acquired a new stake in shares of Cintas in the first quarter valued at $22,366,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 1.3%

Shares of CTAS opened at $205.91 on Friday. The stock’s fifty day simple moving average is $179.30 and its 200-day simple moving average is $183.35. The firm has a market capitalization of $82.38 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts predict that Cintas Corporation will post 5.49 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on CTAS. Robert W. Baird upped their price target on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Truist Financial dropped their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Company 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.