Cintas Co. (NASDAQ:CTAS) Shares Sold by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC trimmed its position in Cintas Co. (NASDAQ:CTAS) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 6,074 shares of the business services provider’s stock after selling 132 shares during the period. Pinion Investment Advisors LLC’s holdings in Cintas were worth $1,248,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Cintas in the 1st quarter worth approximately $883,000. Ritholtz Wealth Management increased its position in shares of Cintas by 4.9% in the 1st quarter. Ritholtz Wealth Management now owns 29,147 shares of the business services provider’s stock valued at $5,991,000 after purchasing an additional 1,363 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of Cintas in the 1st quarter valued at approximately $232,000. American Institute for Advanced Investment Management LLP purchased a new stake in shares of Cintas in the 1st quarter valued at approximately $222,000. Finally, Southland Equity Partners LLC boosted its holdings in shares of Cintas by 1.3% in the 1st quarter. Southland Equity Partners LLC now owns 4,475 shares of the business services provider’s stock valued at $920,000 after buying an additional 56 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTAS. Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 target price (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Truist Financial raised their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. UBS Group raised their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective for the company. in a research note on Thursday, May 1st. Finally, Bank of America initiated coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $215.81.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $221.98 on Friday. The company has a market cap of $89.63 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 3.98 and a beta of 1.08. Cintas Co. has a 12 month low of $172.20 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a 50-day simple moving average of $215.30 and a 200-day simple moving average of $205.54.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm earned $3.84 earnings per share. Cintas’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. Cintas’s dividend payout ratio (DPR) is 36.11%.

Insider Buying and Selling at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

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.