Cintas Corporation $CTAS Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in Cintas Corporation (NASDAQ:CTAS) by 17.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,350 shares of the business services provider’s stock after selling 6,078 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Cintas were worth $5,520,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CTAS. Brighton Jones LLC grew its stake in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after buying an additional 108 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after buying an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Cintas in the second quarter valued at about $625,000. Treasurer of the State of North Carolina grew its stake in shares of Cintas by 20.3% in the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after buying an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC grew its stake in shares of Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after buying an additional 31,068 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 3.4%

Shares of CTAS opened at $173.65 on Tuesday. The company has a market capitalization of $69.48 billion, a P/E ratio of 49.05, a P/E/G ratio of 2.86 and a beta of 0.94. Cintas Corporation has a one year low of $161.16 and a one year high of $227.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The stock has a 50-day moving average price of $172.69 and a 200 day moving average price of $184.42.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 earnings per share. Sell-side analysts forecast that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio is currently 50.85%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 14.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CTAS shares. Stifel Nicolaus lowered their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research note on Wednesday, March 11th. Citigroup lowered their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Finally, Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $215.17.

Cintas 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.