NewEdge Wealth LLC Sells 2,755 Shares of Cintas Corporation $CTAS

NewEdge Wealth LLC cut its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,731 shares of the business services provider’s stock after selling 2,755 shares during the quarter. NewEdge Wealth LLC’s holdings in Cintas were worth $3,506,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Nemes Rush Group LLC acquired a new position in Cintas during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in Cintas in the 4th quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new stake in Cintas in the 4th quarter worth $26,000. Camelot Portfolios LLC acquired a new stake in Cintas in the 4th quarter worth $26,000. Finally, Triumph Capital Management bought a new position in shares of Cintas during the 3rd quarter worth about $29,000. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial cut their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. UBS Group reaffirmed a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $231.00 price objective on shares of Cintas in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cintas currently has an average rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Trading Up 1.3%

Shares of Cintas stock opened at $205.91 on Friday. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75. The firm has a market capitalization of $82.38 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The company’s fifty day moving average price is $179.30 and its two-hundred day moving average price is $183.35.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, analysts expect that Cintas Corporation will post 5.49 EPS for the current year.

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.