Burling Wealth Partners LLC Acquires New Stake in Cintas Co. (NASDAQ:CTAS)

Burling Wealth Partners LLC bought a new position in Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,728 shares of the business services provider's stock, valued at approximately $316,000.

Several other hedge funds have also modified their holdings of CTAS. Sound Income Strategies LLC purchased a new stake in Cintas during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC purchased a new position in Cintas during the 4th quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas during the 4th quarter valued at about $31,000. IAG Wealth Partners LLC boosted its holdings in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the fourth quarter worth about $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of CTAS stock traded up $1.02 during mid-day trading on Tuesday, hitting $209.30. 938,503 shares of the stock were exchanged, compared to its average volume of 1,696,163. 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 52-week low of $162.16 and a 52-week high of $228.12. The firm has a fifty day moving average of $201.61 and a 200 day moving average of $204.32. The company has a market cap of $84.51 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the business earned $3.84 EPS. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Analysts Set New Price Targets

Several equities analysts recently commented on CTAS shares. Morgan Stanley increased their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. The Goldman Sachs Group upped their target price on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird boosted their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $213.62.

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This represents a 23.97 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

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.