Cintas Co. (NASDAQ:CTAS) Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 29.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,810 shares of the business services provider’s stock after buying an additional 5,663 shares during the quarter. Cintas comprises 0.9% of Thurston Springer Miller Herd & Titak Inc.’s holdings, making the stock its 18th largest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Cintas were worth $5,099,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $29,000. IAG Wealth Partners LLC lifted 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 valued at $33,000 after acquiring an additional 104 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Cintas in the fourth quarter worth approximately $34,000. Meeder Asset Management Inc. grew its position in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after acquiring an additional 134 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Cintas during the fourth quarter worth $37,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Buying and Selling

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CTAS. Truist Financial upped their price target on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Morgan Stanley lifted their price target 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. Redburn Atlantic downgraded shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. Finally, Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus target price of $213.88.

Cintas Price Performance

Cintas stock opened at $227.37 on Thursday. 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 $169.46 and a 52-week high of $228.66. The firm has a market cap of $91.81 billion, a PE ratio of 54.82, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company’s 50 day moving average is $211.89 and its two-hundred day moving average is $205.52.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s dividend payout ratio is presently 36.11%.

About Cintas

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.