Terra Nova Asset Management LLC Trims Position in Cintas Co. (NASDAQ:CTAS)

Terra Nova Asset Management LLC lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,098 shares of the business services provider’s stock after selling 164 shares during the period. Terra Nova Asset Management LLC’s holdings in Cintas were worth $566,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC raised its position in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after buying an additional 1,988 shares during the period. Grove Bank & Trust grew its holdings in shares of Cintas by 52.8% during the 4th quarter. Grove Bank & Trust now owns 220 shares of the business services provider’s stock worth $40,000 after purchasing an additional 76 shares during the period. Clarius Group LLC increased its position in Cintas by 6.0% during the 4th quarter. Clarius Group LLC now owns 2,209 shares of the business services provider’s stock worth $404,000 after purchasing an additional 126 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in Cintas by 2.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock valued at $512,000 after buying an additional 55 shares during the period. Finally, HB Wealth Management LLC lifted its position in Cintas by 1.9% during the fourth quarter. HB Wealth Management LLC now owns 6,800 shares of the business services provider’s stock valued at $1,242,000 after buying an additional 126 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on CTAS. Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Two 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 company currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Performance

Shares of CTAS opened at $198.31 on Monday. The stock has a market capitalization of $80.03 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 3.65 and a beta of 1.37. The business’s fifty day moving average price is $205.21 and its 200 day moving average price is $205.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 12-month low of $146.63 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm posted $3.61 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. Cintas’s dividend payout ratio 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.