Penobscot Investment Management Company Inc. Sells 7,120 Shares of Cintas Corporation $CTAS

Penobscot Investment Management Company Inc. lowered its holdings in Cintas Corporation (NASDAQ:CTAS) by 16.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,867 shares of the business services provider’s stock after selling 7,120 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Cintas were worth $6,236,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Nemes Rush Group LLC bought a new position in shares of Cintas in the fourth quarter valued at about $25,000. First United Bank & Trust bought a new stake in Cintas during the 1st quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in Cintas in the 4th quarter valued at about $25,000. Camelot Portfolios LLC acquired a new stake in Cintas in the 4th quarter valued at about $26,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Cintas in the fourth quarter worth about $26,000. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 2.0%

NASDAQ:CTAS opened at $181.83 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.75. The firm has a market capitalization of $72.75 billion, a price-to-earnings ratio of 51.36, a PEG ratio of 2.84 and a beta of 0.94. The business’s 50-day moving average price is $172.88 and its two-hundred day moving average price is $182.85.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction 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 sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CTAS. Stifel Nicolaus decreased their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Bank of America reduced their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings cut Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, Citigroup dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned 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, the company presently has an average rating of “Hold” and an average target price of $211.25.

Cintas Company Profile

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.