Congress Wealth Management LLC DE Buys 2,418 Shares of Cintas Co. (NASDAQ:CTAS)

Congress Wealth Management LLC DE raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 205,137 shares of the business services provider’s stock after acquiring an additional 2,418 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Cintas were worth $37,479,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in Cintas during the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas during the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Cintas during the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC raised its stake in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas in the fourth quarter worth $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several analyst reports. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Robert W. Baird dropped their price target 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. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $199.79.

Cintas Stock Performance

Cintas stock opened at $191.17 on Monday. The stock has a 50-day simple moving average of $200.46 and a 200 day simple moving average of $208.97. The stock has a market capitalization of $77.15 billion, a price-to-earnings ratio of 46.09, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12-month low of $158.10 and a 12-month high of $228.12.

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

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

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.