Flputnam Investment Management Co. Cuts Holdings in Cintas Co. (NASDAQ:CTAS)

Flputnam Investment Management Co. lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,929 shares of the business services provider’s stock after selling 214 shares during the quarter. Flputnam Investment Management Co.’s holdings in Cintas were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares during the last quarter. FMR LLC raised its holdings in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its position in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. boosted its holdings in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup began coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. UBS Group lowered their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Finally, The Goldman Sachs Group cut their target price 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

NASDAQ:CTAS opened at $207.43 on Tuesday. The stock has a market cap of $83.71 billion, a PE ratio of 50.01, a P/E/G ratio of 3.98 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $197.54 and its two-hundred day simple moving average is $209.05. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the firm earned $3.61 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast 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 given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio is 37.59%.

About Cintas

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.