Prospera Financial Services Inc Reduces Stock Position in Cintas Corporation $CTAS

Prospera Financial Services Inc lessened its holdings in Cintas Corporation (NASDAQ:CTAS) by 50.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,059 shares of the business services provider’s stock after selling 8,305 shares during the quarter. Prospera Financial Services Inc’s holdings in Cintas were worth $1,516,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CTAS. Triumph Capital Management acquired a new position in Cintas in the third quarter valued at $29,000. Camelot Portfolios LLC acquired a new position in Cintas in the fourth quarter valued at $26,000. Key Capital Management INC acquired a new position in Cintas in the fourth quarter valued at $28,000. Ares Financial Consulting LLC acquired a new position in Cintas in the fourth quarter valued at $32,000. Finally, Washington Trust Advisors Inc. acquired a new position in Cintas in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CTAS shares. UBS Group restated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. Stifel Nicolaus decreased their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Citigroup decreased their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, Weiss Ratings downgraded shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $215.17.

Insider Buying and Selling

In other Cintas 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 value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.90% of the company’s stock.

Cintas Trading Down 0.7%

Shares of Cintas stock opened at $169.86 on Thursday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $229.24. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a market cap of $67.96 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 3.01 and a beta of 0.96. The company has a 50-day moving average of $173.60 and a two-hundred day moving average of $185.02.

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, meeting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts anticipate that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s payout ratio is presently 50.85%.

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.