Hartford Investment Management Co. Trims Holdings in Cintas Co. (NASDAQ:CTAS)

Hartford Investment Management Co. lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 21,263 shares of the business services provider’s stock after selling 328 shares during the quarter. Hartford Investment Management Co.’s holdings in Cintas were worth $3,885,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CTAS. Grove Bank & Trust boosted its stake in shares of Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. CX Institutional boosted its position in Cintas by 308.1% during the 3rd quarter. CX Institutional now owns 1,975 shares of the business services provider’s stock valued at $407,000 after acquiring an additional 1,491 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Cintas by 283.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,338 shares of the business services provider’s stock worth $275,000 after acquiring an additional 989 shares during the period. Creative Planning raised its position in shares of Cintas by 356.6% in the 3rd quarter. Creative Planning now owns 88,354 shares of the business services provider’s stock worth $18,190,000 after acquiring an additional 69,003 shares in the last quarter. Finally, Swedbank AB lifted its stake in shares of Cintas by 308.3% in the 3rd quarter. Swedbank AB now owns 221,336 shares of the business services provider’s stock valued at $45,569,000 after purchasing an additional 167,123 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTAS shares. UBS Group reduced their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company reduced their target price 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. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley upped their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Down 0.4 %

Cintas stock opened at $204.61 on Thursday. The firm has a market cap of $82.57 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 3.95 and a beta of 1.38. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12 month low of $150.70 and a 12 month high of $228.12. The stock has a fifty day simple moving average of $198.16 and a two-hundred day simple moving average of $207.47.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $3.61 EPS. Equities analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.61%.

Cintas 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.