NewEdge Wealth LLC Has $2.30 Million Holdings in Cintas Co. (NASDAQ:CTAS)

NewEdge Wealth LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,819 shares of the business services provider’s stock after purchasing an additional 242 shares during the quarter. NewEdge Wealth LLC’s holdings in Cintas were worth $2,302,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CTAS. Raymond James Trust N.A. raised its position in Cintas by 10.6% in the 1st quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock valued at $314,000 after buying an additional 71 shares during the last quarter. Baird Financial Group Inc. grew its stake in Cintas by 16.8% in the 1st quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock valued at $7,505,000 after purchasing an additional 2,541 shares during the period. Covestor Ltd grew its stake in Cintas by 84.7% in the 1st quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock valued at $139,000 after purchasing an additional 150 shares during the period. Mackenzie Financial Corp grew its stake in Cintas by 9.3% in the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock valued at $3,009,000 after purchasing an additional 604 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Cintas by 19.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock valued at $10,410,000 after purchasing an additional 4,037 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays upped their price objective on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Bank of America increased their price target on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Oppenheimer reiterated a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Robert W. Baird increased their price target on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group increased their price objective on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $661.21.

Cintas Stock Performance

NASDAQ:CTAS opened at $668.41 on Monday. The business’s 50-day moving average price is $638.38 and its two-hundred day moving average price is $582.31. Cintas Co. has a twelve month low of $438.59 and a twelve month high of $704.84. The stock has a market cap of $67.76 billion, a P/E ratio of 46.16, a PEG ratio of 3.91 and a beta of 1.27. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.14 EPS. As a group, equities analysts predict that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. Cintas’s dividend payout ratio is 37.29%.

About Cintas

Cintas Corporation provides 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.