Pittenger & Anderson Inc. Boosts Stock Position in Cintas Corporation $CTAS

Pittenger & Anderson Inc. raised 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 & Exchange Commission. The institutional investor owned 174,641 shares of the business services provider’s stock after purchasing an additional 8,182 shares during the period. Cintas comprises approximately 1.2% of Pittenger & Anderson Inc.’s holdings, making the stock its 20th largest holding. Pittenger & Anderson Inc.’s holdings in Cintas were worth $29,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. One Capital Management LLC boosted its stake in Cintas by 0.9% during the 4th quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after acquiring an additional 53 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of Cintas by 1.1% in the 4th quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock worth $951,000 after purchasing an additional 54 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Cintas by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock valued at $1,236,000 after purchasing an additional 58 shares in the last quarter. Woodward Diversified Capital LLC raised its stake in shares of Cintas by 4.8% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 59 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Cintas by 1.4% during the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock worth $824,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Insider Transactions at Cintas

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CTAS shares. Truist Financial decreased their price target on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Bank of America reduced their target price on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Citigroup decreased their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings downgraded Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus price target of $211.25.

Cintas Stock Performance

NASDAQ CTAS traded up $1.95 during trading hours on Friday, reaching $179.64. The company’s stock had a trading volume of 1,333,635 shares, compared to its average volume of 1,943,040. 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 business has a 50-day simple moving average of $173.19 and a 200 day simple moving average of $182.69. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The stock has a market cap of $71.87 billion, a PE ratio of 50.75, a PEG ratio of 2.86 and a beta of 0.94.

Cintas Dividend Announcement

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