Hennion & Walsh Asset Management Inc. Sells 6,324 Shares of Cintas Co. (NASDAQ:CTAS)

Hennion & Walsh Asset Management Inc. trimmed its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,988 shares of the business services provider's stock after selling 6,324 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Cintas were worth $6,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider's stock worth $160,357,000 after acquiring an additional 529,005 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. LVM Capital Management Ltd. MI raised its holdings in Cintas by 292.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider's stock worth $1,002,000 after buying an additional 4,086 shares during the period. Atria Investments Inc lifted its stake in Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider's stock valued at $4,595,000 after buying an additional 16,623 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock worth $22,976,000 after buying an additional 86,460 shares during the period. Institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on CTAS. Morgan Stanley raised their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price target on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and an average price target of $198.46.

Cintas Stock Up 1.2 %

Cintas stock traded up $2.35 during mid-day trading on Thursday, hitting $198.05. 1,417,871 shares of the company's stock were exchanged, compared to its average volume of 2,166,297. Cintas Co. has a 1-year low of $146.29 and a 1-year high of $228.12. The stock has a 50 day moving average of $206.18 and a two-hundred day moving average of $204.81. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $79.92 billion, a P/E ratio of 47.75, a P/E/G ratio of 3.65 and a beta of 1.37.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm posted $3.61 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, February 14th. Cintas's payout ratio is 37.61%.

Cintas Company 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.