1ST Source Bank Sells 148 Shares of Cintas Co. (NASDAQ:CTAS)

1ST Source Bank lessened its position in Cintas Co. (NASDAQ:CTAS) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,504 shares of the business services provider’s stock after selling 148 shares during the period. 1ST Source Bank’s holdings in Cintas were worth $275,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in Cintas in the 4th quarter worth $27,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas in the 4th quarter worth about $31,000. IAG Wealth Partners LLC lifted its position in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas in the 4th quarter worth about $34,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Cintas in the 4th quarter worth about $37,000. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cintas Stock Up 1.2 %

Shares of Cintas stock opened at $195.17 on Tuesday. 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 stock has a market capitalization of $78.76 billion, a PE ratio of 47.06, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 52-week low of $155.89 and a 52-week high of $228.12. The company 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 issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business 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%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.61 earnings per share. On average, analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.80%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Cintas Company 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.