Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 31.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,643 shares of the business services provider’s stock after purchasing an additional 5,724 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cintas were worth $4,320,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of Cintas during the fourth quarter worth approximately $27,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the fourth quarter worth approximately $31,000. IAG Wealth Partners LLC raised its stake in shares of Cintas by 136.8% during the fourth 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 last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the fourth quarter worth approximately $34,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Cintas during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.9 %

Cintas stock opened at $193.41 on Wednesday. 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 firm has a market capitalization of $78.05 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a fifty-two week low of $155.89 and a fifty-two week high of $228.12. The stock’s fifty day moving average is $200.31 and its two-hundred day moving average is $209.11.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 earnings per share. Analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. The Goldman Sachs Group cut their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. UBS Group cut their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $199.79.

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.