Concurrent Investment Advisors LLC Acquires 3,633 Shares of Cintas Corporation $CTAS

Concurrent Investment Advisors LLC lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 34.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,326 shares of the business services provider’s stock after purchasing an additional 3,633 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cintas were worth $2,694,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CTAS. Key Capital Management INC bought a new stake in shares of Cintas during the fourth quarter worth $28,000. Triumph Capital Management acquired a new position in shares of Cintas during the third quarter valued at $29,000. Alpine Bank Wealth Management lifted its stake in shares of Cintas by 1,092.9% during the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 153 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of Cintas during the fourth quarter valued at $34,000. Finally, WPG Advisers LLC lifted its stake in shares of Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 81 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS opened at $174.22 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 1 year low of $165.60 and a 1 year high of $229.24. The stock has a market cap of $69.70 billion, a P/E ratio of 49.21, a price-to-earnings-growth ratio of 3.06 and a beta of 1.01. The stock’s 50-day moving average price is $184.51 and its two-hundred day moving average price is $187.40.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business earned $1.13 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 50.85%.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTAS. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and upped their price target for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Argus raised Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Bank of America began coverage on Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $215.17.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.