Welch & Forbes LLC Decreases Stake in Cintas Co. (NASDAQ:CTAS)

Welch & Forbes LLC cut its holdings in Cintas Co. (NASDAQ:CTAS) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,029 shares of the business services provider’s stock after selling 257 shares during the quarter. Welch & Forbes LLC’s holdings in Cintas were worth $35,266,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CTAS. Impax Asset Management Group plc boosted its stake in shares of Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after buying an additional 1,648,350 shares in the last quarter. Catalyst Capital Advisors LLC boosted its stake in shares of Cintas by 221.6% in the third quarter. Catalyst Capital Advisors LLC now owns 312 shares of the business services provider’s stock valued at $64,000 after buying an additional 215 shares in the last quarter. United Advisor Group LLC boosted its stake in shares of Cintas by 300.9% in the third quarter. United Advisor Group LLC now owns 1,856 shares of the business services provider’s stock valued at $382,000 after buying an additional 1,393 shares in the last quarter. Crescent Grove Advisors LLC boosted its position in Cintas by 300.0% during the third quarter. Crescent Grove Advisors LLC now owns 1,976 shares of the business services provider’s stock worth $407,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Catalina Capital Group LLC purchased a new stake in Cintas during the third quarter worth $236,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CTAS shares. Truist Financial decreased their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird decreased their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company decreased their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. UBS Group decreased their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $199.79.

Cintas Stock Performance

Cintas stock opened at $200.60 on Friday. The firm has a market capitalization of $80.95 billion, a P/E ratio of 48.37, a PEG ratio of 3.98 and a beta of 1.38. The stock has a fifty day moving average price of $198.51 and a 200 day moving average price of $209.06. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion during 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.61 earnings per share. Equities research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.78%. Cintas’s payout ratio is currently 37.59%.

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.