Cintas Co. (NASDAQ:CTAS) Shares Sold by Rockland Trust Co.

Rockland Trust Co. lessened its position in shares of Cintas Co. (NASDAQ:CTAS) by 75.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,658 shares of the business services provider’s stock after selling 4,969 shares during the period. Rockland Trust Co.’s holdings in Cintas were worth $341,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. Belpointe Asset Management LLC raised its position in shares of Cintas by 65.5% during the 4th quarter. Belpointe Asset Management LLC now owns 705 shares of the business services provider’s stock worth $425,000 after purchasing an additional 279 shares during the last quarter. Lake Street Advisors Group LLC acquired a new stake in Cintas during the fourth quarter worth $220,000. Cetera Advisor Networks LLC grew its holdings in shares of Cintas by 12.5% during the 4th quarter. Cetera Advisor Networks LLC now owns 8,689 shares of the business services provider’s stock worth $5,236,000 after purchasing an additional 964 shares during the period. 1832 Asset Management L.P. boosted its stake in Cintas by 4.8% during the fourth quarter. 1832 Asset Management L.P. now owns 15,231 shares of the business services provider’s stock worth $9,179,000 after buying an additional 704 shares during the period. Finally, Stephens Inc. AR boosted its position in shares of Cintas by 23.6% during the 4th quarter. Stephens Inc. AR now owns 2,702 shares of the business services provider’s stock worth $1,628,000 after purchasing an additional 516 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of research reports. Barclays lifted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Jefferies Financial Group decreased their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Robert W. Baird increased their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Truist Financial raised their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $199.63.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now directly owns 125,808 shares of the company’s stock, valued at $24,083,425.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.10% of the company’s stock.

Cintas Trading Up 0.2 %

Shares of NASDAQ CTAS traded up $0.36 during trading on Friday, hitting $204.91. 1,747,411 shares of the company traded hands, compared to its average volume of 1,492,867. Cintas Co. has a 1 year low of $119.86 and a 1 year high of $211.57. The firm has a market capitalization of $20.79 billion, a P/E ratio of 14.15, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $210.38 and a 200-day moving average price of $185.66.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 EPS. On average, equities analysts predict that Cintas Co. will post 4.16 EPS for the current year.

Cintas Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its board has initiated a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.