Welch & Forbes LLC Cuts Position in Cintas Corporation (NASDAQ:CTAS)

Welch & Forbes LLC lessened its holdings in Cintas Corporation (NASDAQ:CTAS) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,496 shares of the business services provider’s stock after selling 533 shares during the quarter. Welch & Forbes LLC’s holdings in Cintas were worth $39,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Brighton Jones LLC raised its holdings in Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Cintas by 0.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider’s stock valued at $93,969,000 after buying an additional 3,504 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Cintas in the fourth quarter worth approximately $295,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Cintas by 134.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the business services provider’s stock valued at $159,000 after buying an additional 500 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cintas in the fourth quarter worth about $2,587,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Down 1.7%

Shares of NASDAQ CTAS opened at $213.24 on Wednesday. Cintas Corporation has a 12-month low of $178.88 and a 12-month high of $229.24. The stock’s fifty day simple moving average is $220.73 and its two-hundred day simple moving average is $207.46. The stock has a market capitalization of $86.10 billion, a PE ratio of 49.39, a price-to-earnings-growth ratio of 3.38 and a beta of 1.05. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTAS. Bank of America initiated coverage on shares of Cintas in a report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target on the stock. Wells Fargo & Company upgraded shares of Cintas from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. Argus raised Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Finally, Robert W. Baird upped their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $220.96.

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.