Contravisory Investment Management Inc. Trims Stake in Cintas Corporation $CTAS

Contravisory Investment Management Inc. decreased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 8.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,609 shares of the business services provider’s stock after selling 4,267 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Cintas were worth $7,883,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its position in shares of Cintas by 8.6% in the first quarter. Kestra Private Wealth Services LLC now owns 30,028 shares of the business services provider’s stock valued at $5,079,000 after purchasing an additional 2,378 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Cintas by 0.8% during the 1st quarter. Ritholtz Wealth Management now owns 29,037 shares of the business services provider’s stock worth $4,911,000 after acquiring an additional 221 shares during the period. RFG Advisory LLC acquired a new stake in shares of Cintas in the first quarter worth approximately $406,000. Fifth Third Wealth Advisors LLC grew its holdings in Cintas by 19.7% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,504 shares of the business services provider’s stock valued at $762,000 after purchasing an additional 740 shares during the period. Finally, OP Asset Management Ltd acquired a new position in Cintas during the first quarter worth approximately $7,060,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 1.1%

Cintas stock opened at $169.09 on Friday. The firm has a market capitalization of $67.65 billion, a P/E ratio of 47.77, a P/E/G ratio of 2.72 and a beta of 0.94. The company has a 50-day simple moving average of $173.04 and a 200-day simple moving average of $183.44. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. 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 earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm 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 business posted $1.13 EPS. Cintas’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts expect that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is currently 50.85%.

Insider Activity

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group reiterated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Weiss Ratings lowered Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Citigroup cut their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a research report on Wednesday, March 11th. Finally, Truist Financial lowered their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus price target of $215.92.

About Cintas

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.