Corient Private Wealth LLC Decreases Position in Cintas Co. (NASDAQ:CTAS)

Corient Private Wealth LLC decreased its stake in Cintas Co. (NASDAQ:CTAS) by 3.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 165,215 shares of the business services provider’s stock after selling 5,344 shares during the period. Corient Private Wealth LLC’s holdings in Cintas were worth $30,185,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. State Street Corp boosted its stake in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares during the period. FMR LLC lifted its holdings in shares of Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after acquiring an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its holdings in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CTAS shares. Wells Fargo & Company dropped their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Truist Financial decreased their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. UBS Group cut their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley lifted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $199.79.

Cintas Stock Performance

CTAS stock opened at $195.17 on Tuesday. Cintas Co. has a one year low of $155.89 and a one year high of $228.12. The firm has a market cap of $78.76 billion, a price-to-earnings ratio of 47.06, a PEG ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a 50-day simple moving average of $200.22 and a two-hundred day simple moving average of $209.17.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.61 earnings per share. On average, equities analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.80%. Cintas’s payout ratio is 37.59%.

Cintas Profile

Cintas Corporation engages in the provision of 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.