Pittenger & Anderson Inc. Increases Stock Holdings in Cintas Corporation $CTAS

Pittenger & Anderson Inc. boosted its holdings in Cintas Corporation (NASDAQ:CTAS) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 174,641 shares of the business services provider’s stock after acquiring an additional 8,182 shares during the period. Cintas accounts for about 1.2% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 20th largest position. Pittenger & Anderson Inc.’s holdings in Cintas were worth $29,539,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in Cintas during the 4th quarter worth about $25,000. First United Bank & Trust purchased a new position in Cintas in the 1st quarter valued at about $25,000. Whipplewood Advisors LLC lifted its holdings in Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Swiss RE Ltd. acquired a new stake in shares of Cintas during the 4th quarter worth about $25,000. Finally, Camelot Portfolios LLC purchased a new stake in shares of Cintas during the fourth quarter worth about $26,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Up 1.1%

NASDAQ:CTAS traded up $1.95 during mid-day trading on Friday, hitting $179.64. The company had a trading volume of 1,333,635 shares, compared to its average volume of 1,943,040. The business has a fifty day simple moving average of $173.19 and a 200-day simple moving average of $182.69. The firm has a market capitalization of $71.87 billion, a price-to-earnings ratio of 50.75, a PEG ratio of 2.86 and a beta of 0.94. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is currently 50.85%.

Analysts Set New Price Targets

Several analysts have commented on CTAS shares. Weiss Ratings cut shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Bank of America decreased their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Stifel Nicolaus reduced their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Citigroup decreased their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Finally, Truist Financial lowered their price target on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average target price of $211.25.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by company insiders.

About Cintas

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.