Lazard Asset Management LLC Cuts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Lazard Asset Management LLC reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,312 shares of the business services provider’s stock after selling 14,723 shares during the period. Lazard Asset Management LLC’s holdings in Cintas were worth $21,066,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Guardian Wealth Advisors LLC increased its stake in Cintas by 3.1% during the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after buying an additional 52 shares in the last quarter. MGB Wealth Management LLC grew its position in shares of Cintas by 0.7% in the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after purchasing an additional 52 shares in the last quarter. TIAA Trust National Association grew its position in shares of Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after purchasing an additional 52 shares in the last quarter. Wellspring Financial Advisors LLC grew its position in shares of Cintas by 4.6% in the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 52 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its position in shares of Cintas by 7.7% in the fourth quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 52 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Bank of America initiated coverage on Cintas in a research report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target for the company. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $213.88.

Cintas Stock Down 0.8%

NASDAQ:CTAS opened at $215.33 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $203.45 and its two-hundred day moving average is $204.52. Cintas Co. has a 52 week low of $164.93 and a 52 week high of $228.12. The stock has a market capitalization of $86.95 billion, a price-to-earnings ratio of 51.92, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the firm earned $3.84 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

Insider Activity

In other news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.