HFR Wealth Management LLC Sells 3,308 Shares of Cintas Corporation $CTAS

HFR Wealth Management LLC lessened its holdings in Cintas Corporation (NASDAQ:CTAS) by 3.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 93,070 shares of the business services provider’s stock after selling 3,308 shares during the period. Cintas comprises 4.8% of HFR Wealth Management LLC’s holdings, making the stock its 4th biggest position. HFR Wealth Management LLC’s holdings in Cintas were worth $18,154,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Cintas during the second quarter valued at approximately $4,520,425,000. Bank of New York Mellon Corp purchased a new stake in Cintas during the second quarter worth $644,334,000. Amundi lifted its holdings in Cintas by 6.3% during the first quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock worth $406,336,000 after buying an additional 142,576 shares during the period. Legal & General Group Plc bought a new stake in Cintas during the 2nd quarter valued at $386,159,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Cintas by 34.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,040,757 shares of the business services provider’s stock valued at $345,174,000 after acquiring an additional 526,299 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTAS. Citigroup lifted their price target on Cintas from $180.00 to $181.00 and gave the company a “sell” rating in a report on Wednesday, September 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research note on Thursday, September 24th. Truist Financial raised their price objective on Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Argus lifted their target price on Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. Finally, Rothschild & Co Redburn boosted their target price on shares of Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $219.87.

Cintas Stock Down 0.6%

Shares of CTAS stock traded down $1.28 during trading hours on Friday, reaching $226.24. 1,456,031 shares of the company’s stock were exchanged, compared to its average volume of 2,036,845. The stock’s 50 day moving average is $208.94 and its 200-day moving average is $192.09. The company has a market cap of $89.84 billion, a price-to-earnings ratio of 44.62, a P/E/G ratio of 3.61 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $233.46.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.04. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Analysts predict that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Cintas’s payout ratio is presently 41.03%.

Cintas Profile

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms. The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment. Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.