RWA Wealth Partners LLC Takes Position in Cintas Co. (NASDAQ:CTAS)

RWA Wealth Partners LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,606 shares of the business services provider’s stock, valued at approximately $1,571,000.

A number of other hedge funds also recently made changes to their positions in the business. Invesco Ltd. raised its stake in Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after acquiring an additional 151,783 shares during the period. American Century Companies Inc. grew its stake in Cintas by 40.7% in the 3rd quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock valued at $235,009,000 after buying an additional 141,375 shares in the last quarter. FMR LLC boosted its holdings in shares of Cintas by 5.5% in the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after acquiring an additional 123,468 shares during the period. Acadian Asset Management LLC raised its stake in shares of Cintas by 257.8% during the 3rd quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock valued at $69,978,000 after purchasing an additional 104,854 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after purchasing an additional 85,662 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Cintas stock opened at $666.33 on Wednesday. The company has a 50 day moving average price of $645.27 and a 200-day moving average price of $591.22. The company has a market capitalization of $67.55 billion, a PE ratio of 46.02, a P/E/G ratio of 3.90 and a beta of 1.27. Cintas Co. has a fifty-two week low of $438.59 and a fifty-two week high of $704.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm earned $3.14 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities analysts forecast that Cintas Co. will post 14.95 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 14th. Stockholders of record on Wednesday, May 15th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is currently 37.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CTAS shares. Truist Financial upped their price target on shares of Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Royal Bank of Canada upped their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Finally, UBS Group lifted their price target on shares of Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

About Cintas

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.