Hennion & Walsh Asset Management Inc. Cuts Position in Cintas Corporation $CTAS

Hennion & Walsh Asset Management Inc. decreased its position in Cintas Corporation (NASDAQ:CTAS) by 24.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,458 shares of the business services provider’s stock after selling 7,036 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cintas were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Beacon Investment Advisors LLC boosted its position in shares of Cintas by 3.2% during the 2nd quarter. Beacon Investment Advisors LLC now owns 1,725 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 53 shares during the last quarter. Woodward Diversified Capital LLC grew its holdings in shares of Cintas by 4.7% in the third quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 55 shares in the last quarter. Continuum Advisory LLC increased its position in Cintas by 0.8% in the third quarter. Continuum Advisory LLC now owns 6,894 shares of the business services provider’s stock worth $1,415,000 after purchasing an additional 56 shares during the last quarter. Mather Group LLC. increased its position in Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock worth $824,000 after purchasing an additional 59 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in Cintas by 4.8% during the third quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 60 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

NASDAQ:CTAS opened at $168.66 on Tuesday. The firm has a market capitalization of $67.45 billion, a PE ratio of 49.17, a PEG ratio of 2.97 and a beta of 0.95. The stock’s fifty day moving average is $192.41 and its 200 day moving average is $191.16. Cintas Corporation has a fifty-two week low of $165.60 and a fifty-two week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas’s payout ratio is currently 52.48%.

Wall Street Analyst Weigh In

Several research firms have commented on CTAS. Morgan Stanley lowered their price objective on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a report on Wednesday, March 11th. Citigroup restated a “sell” rating and set a $181.00 target price (up from $176.00) on shares of Cintas in a research report on Monday, December 22nd. Wells Fargo & Company raised shares of Cintas from a “cautious” rating to an “overweight” rating and increased their price target for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Finally, Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $216.92.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.