MainStreet Investment Advisors LLC Has $1.69 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

MainStreet Investment Advisors LLC lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,259 shares of the business services provider’s stock after selling 65 shares during the period. MainStreet Investment Advisors LLC’s holdings in Cintas were worth $1,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC acquired a new stake in shares of Cintas in the fourth quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas during the fourth quarter worth $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the fourth quarter worth $31,000. IAG Wealth Partners LLC raised its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the fourth quarter worth $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTAS has been the subject of several recent research reports. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective for the company. in a report on Thursday, May 1st. Morgan Stanley increased their price objective on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Robert W. Baird increased their price objective on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Finally, Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They set a “buy” rating and a $250.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $213.88.

Cintas Price Performance

NASDAQ CTAS opened at $215.33 on Wednesday. Cintas Co. has a fifty-two week low of $164.93 and a fifty-two week high of $228.12. The stock’s 50-day moving average is $203.45 and its two-hundred day moving average is $204.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The firm has a market cap of $86.95 billion, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.84 earnings per share. On average, analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s payout ratio is presently 36.11%.

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.