Tranquility Partners LLC Cuts Stock Position in Cintas Co. (NASDAQ:CTAS)

Tranquility Partners LLC trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 631 shares of the business services provider’s stock after selling 19 shares during the quarter. Tranquility Partners LLC’s holdings in Cintas were worth $380,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTAS. Norges Bank purchased a new stake in Cintas during the 4th quarter valued at $379,291,000. Select Equity Group L.P. boosted its stake in Cintas by 1,344.1% during the 4th quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock valued at $213,819,000 after purchasing an additional 440,662 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Cintas by 52.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock valued at $422,825,000 after purchasing an additional 292,701 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Cintas by 8,140.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock valued at $73,609,000 after purchasing an additional 170,939 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Cintas by 17.4% during the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after purchasing an additional 151,783 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Down 0.3 %

Shares of NASDAQ:CTAS traded down $2.04 during mid-day trading on Thursday, reaching $666.47. 15,545 shares of the company were exchanged, compared to its average volume of 340,273. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The firm has a market cap of $67.56 billion, a price-to-earnings ratio of 46.17, a P/E/G ratio of 3.90 and a beta of 1.27. The firm’s 50-day simple moving average is $641.27 and its 200 day simple moving average is $585.47. Cintas Co. has a 1 year low of $438.59 and a 1 year high of $704.84.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $3.14 EPS. Equities research analysts forecast that Cintas Co. will post 14.96 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.81%. Cintas’s dividend payout ratio is presently 37.29%.

Analysts Set New Price Targets

CTAS has been the topic of a number of research reports. Truist Financial raised their price target on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price objective on shares of Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Robert W. Baird boosted their price objective on shares of Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $661.21.

Cintas Profile

Cintas Corporation provides 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.