Great Lakes Advisors LLC Lowers Position in Cintas Co. (NASDAQ:CTAS)

Great Lakes Advisors LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 26,934 shares of the business services provider’s stock after selling 195 shares during the period. Great Lakes Advisors LLC’s holdings in Cintas were worth $4,921,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Impax Asset Management Group plc lifted its holdings in shares of Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after acquiring an additional 1,648,350 shares during the last quarter. Assetmark Inc. lifted its stake in Cintas by 406.4% during the third quarter. Assetmark Inc. now owns 7,343 shares of the business services provider’s stock worth $1,512,000 after purchasing an additional 5,893 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Cintas by 444.4% during the third quarter. Sigma Planning Corp now owns 2,929 shares of the business services provider’s stock worth $603,000 after buying an additional 2,391 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of Cintas in the third quarter valued at $618,000. Finally, Versor Investments LP purchased a new stake in shares of Cintas in the 3rd quarter valued at $213,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird lowered their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. UBS Group reduced their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group dropped their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report 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 report on Friday, December 20th. Finally, Truist Financial dropped their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $199.79.

Cintas Price Performance

CTAS opened at $190.58 on Friday. Cintas Co. has a twelve month low of $155.51 and a twelve month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a market cap of $76.91 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 3.98 and a beta of 1.41. The company has a fifty day simple moving average of $199.88 and a 200 day simple moving average of $209.11.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.61 earnings per share. Equities research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

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.