National Wealth Management Group LLC Sells 872 Shares of Cintas Co. (NASDAQ:CTAS)

National Wealth Management Group LLC lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,388 shares of the business services provider’s stock after selling 872 shares during the quarter. National Wealth Management Group LLC’s holdings in Cintas were worth $619,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in shares of Cintas by 70.7% in the 4th quarter. National Bank of Canada FI now owns 455,565 shares of the business services provider’s stock valued at $83,232,000 after purchasing an additional 188,745 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Cintas by 10.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,316 shares of the business services provider’s stock worth $606,000 after buying an additional 307 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after buying an additional 134 shares during the last quarter. Axiom Investors LLC DE increased its holdings in shares of Cintas by 14.0% during the 4th quarter. Axiom Investors LLC DE now owns 910,992 shares of the business services provider’s stock valued at $166,438,000 after acquiring an additional 111,772 shares during the last quarter. Finally, AIA Group Ltd bought a new position in shares of Cintas in the 4th quarter valued at approximately $2,430,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 1.1 %

Shares of CTAS stock opened at $205.53 on Tuesday. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $201.15 and a 200-day moving average of $204.61. The company has a market capitalization of $82.94 billion, a price-to-earnings ratio of 49.56, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $3.84 EPS. As a group, equities research analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Citigroup started coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Truist Financial upped their target price on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Finally, Morgan Stanley boosted their price target on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $210.58.

About Cintas

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.