NorthRock Partners LLC Buys 2,612 Shares of Cintas Co. (NASDAQ:CTAS)

NorthRock Partners LLC increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 46.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,282 shares of the business services provider’s stock after acquiring an additional 2,612 shares during the quarter. NorthRock Partners LLC’s holdings in Cintas were worth $1,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTAS. Sound Income Strategies LLC purchased a new stake in shares of Cintas during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Cintas in the fourth quarter valued at $29,000. Endeavor Private Wealth Inc. bought a new stake in Cintas in the fourth quarter worth $31,000. IAG Wealth Partners LLC raised its stake in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Cintas during the fourth quarter valued at $34,000. Institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director now owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jim Rozakis sold 2,000 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Cintas Stock Down 0.5%

Shares of CTAS opened at $214.19 on Thursday. The firm has a fifty day moving average price of $203.67 and a 200-day moving average price of $204.58. 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 capitalization of $86.49 billion, a P/E ratio of 51.64, a P/E/G ratio of 3.98 and a beta of 1.09. Cintas Co. has a 12-month low of $164.93 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $3.84 EPS. Equities research analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.73%. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Bank of America assumed coverage on Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 price objective on the stock. Morgan Stanley lifted their target price on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Finally, Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $213.88.

Cintas 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.