PNC Financial Services Group Inc. Lowers Position in Cintas Co. (NASDAQ:CTAS)

PNC Financial Services Group Inc. lowered its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,191,850 shares of the business services provider's stock after selling 94,675 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.30% of Cintas worth $217,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. Haven Private LLC purchased a new position in shares of Cintas in the 4th quarter valued at approximately $986,000. Destination Wealth Management lifted its stake in shares of Cintas by 432.5% in the 4th quarter. Destination Wealth Management now owns 14,165 shares of the business services provider's stock valued at $2,588,000 after purchasing an additional 11,505 shares during the period. Callan Family Office LLC purchased a new position in shares of Cintas in the 4th quarter valued at approximately $1,491,000. E Fund Management Co. Ltd. lifted its stake in shares of Cintas by 30.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 5,602 shares of the business services provider's stock valued at $1,023,000 after purchasing an additional 1,320 shares during the period. Finally, Candriam S.C.A. lifted its stake in shares of Cintas by 14.5% in the 4th quarter. Candriam S.C.A. now owns 359,798 shares of the business services provider's stock valued at $65,735,000 after purchasing an additional 45,543 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CTAS shares. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group reduced 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. UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Truist Financial reduced their price objective on Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Finally, Citigroup began coverage on Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $199.79.

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Cintas Stock Up 1.2 %

Shares of Cintas stock traded up $2.46 on Friday, reaching $203.06. The company's stock had a trading volume of 1,804,813 shares, compared to its average volume of 1,724,405. The company has a market capitalization of $81.94 billion, a price-to-earnings ratio of 48.96, a P/E/G ratio of 3.98 and a beta of 1.41. The firm's fifty day simple moving average is $198.90 and its two-hundred day simple moving average is $209.23. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. 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 (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 EPS. Equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas's dividend payout ratio (DPR) is currently 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.