PNC Financial Services Group Inc. Trims Stock Position in Cintas Corporation $CTAS

PNC Financial Services Group Inc. lessened its position in shares of Cintas Corporation (NASDAQ:CTAS) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,134,604 shares of the business services provider’s stock after selling 10,446 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cintas were worth $213,385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock valued at $951,000 after purchasing an additional 54 shares during the period. Woodward Diversified Capital LLC raised its position in Cintas by 4.8% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 59 shares during the period. Mather Group LLC. raised its position in Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock valued at $824,000 after purchasing an additional 59 shares during the period. Oakworth Capital Inc. raised its position in Cintas by 4.8% in the third quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 60 shares during the period. Finally, Atlas Legacy Advisors LLC raised its position in Cintas by 4.1% in the third quarter. Atlas Legacy Advisors LLC now owns 1,560 shares of the business services provider’s stock valued at $320,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.5%

Cintas stock opened at $171.36 on Thursday. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $229.24. The stock’s fifty day simple moving average is $175.92 and its 200-day simple moving average is $185.45. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $68.56 billion, a P/E ratio of 48.41, a P/E/G ratio of 3.03 and a beta of 0.96.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company earned $1.13 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas’s dividend payout ratio is currently 50.85%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CTAS shares. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Citigroup cut their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Bank of America started coverage on Cintas in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price on the stock. Finally, Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $215.17.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Cintas 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.