Bridges Investment Management Inc. Has $49.63 Million Position in Cintas Co. (NASDAQ:CTAS)

Bridges Investment Management Inc. trimmed its stake in Cintas Co. (NASDAQ:CTAS) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 271,631 shares of the business services provider’s stock after selling 2,224 shares during the period. Bridges Investment Management Inc. owned 0.07% of Cintas worth $49,627,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CTAS. State Street Corp boosted its stake in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC raised its position in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after buying an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 2.0 %

CTAS stock opened at $207.50 on Friday. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The company has a market capitalization of $83.74 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The company’s 50-day simple moving average is $197.13 and its 200 day simple moving average is $208.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.61 EPS. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Robert W. Baird dropped their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Citigroup started coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $199.79.

Cintas 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.