PNC Financial Services Group Inc. Cuts Stock Position in Cintas Co. (NASDAQ:CTAS)

PNC Financial Services Group Inc. lessened its stake in Cintas Co. (NASDAQ:CTAS) by 7.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,191,850 shares of the business services provider’s stock after selling 94,675 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.30% of Cintas worth $217,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its stake in Cintas by 299.3% during the 3rd 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 in the last quarter. FMR LLC boosted its stake in shares of Cintas by 297.3% in the third 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 raised its stake in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. raised its stake in Cintas by 264.7% in 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 lifted its holdings 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 valued at $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 1.2 %

CTAS opened at $203.06 on Friday. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The business has a fifty day simple moving average of $198.90 and a 200-day simple moving average of $209.12. The firm has a market cap of $81.94 billion, a P/E ratio of 48.96, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last announced 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business posted $3.61 EPS. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is 37.59%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Robert W. Baird dropped their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. UBS Group dropped their price target on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Finally, Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $199.79.

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.