Spire Wealth Management Sells 31,594 Shares of Cintas Co. (NASDAQ:CTAS)

Spire Wealth Management trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 78.8% in the 4th quarter, Holdings Channel reports. The fund owned 8,499 shares of the business services provider’s stock after selling 31,594 shares during the quarter. Spire Wealth Management’s holdings in Cintas were worth $1,553,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CTAS. State Street Corp increased its stake in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC grew its position in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC grew its position in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. grew its position in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 0.8 %

CTAS stock opened at $202.21 on Tuesday. The firm has a fifty day moving average price of $201.15 and a 200 day moving average price of $206.83. Cintas Co. has a fifty-two week low of $150.70 and a fifty-two week high of $228.12. 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 cap of $81.60 billion, a PE ratio of 48.75, a price-to-earnings-growth ratio of 3.87 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $3.61 earnings per share. Sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is 37.61%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CTAS shares. Wells Fargo & Company cut their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Robert W. Baird lowered their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. UBS Group decreased their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley raised their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note 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 given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $198.46.

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.