Patriot Financial Group Insurance Agency LLC Acquires Shares of 1,189 Cintas Co. (NASDAQ:CTAS)

Patriot Financial Group Insurance Agency LLC acquired a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,189 shares of the business services provider's stock, valued at approximately $244,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Cintas during the fourth quarter worth $877,216,000. GAMMA Investing LLC grew its stake in Cintas by 19,644.3% in the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after acquiring an additional 2,251,629 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Cintas in the fourth quarter worth about $196,057,000. Raymond James Financial Inc. bought a new stake in shares of Cintas in the fourth quarter worth about $96,282,000. Finally, Northern Trust Corp raised its position in shares of Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after purchasing an additional 472,069 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the business'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 completion of the sale, the director now owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Cintas Stock Up 0.2%

Shares of NASDAQ:CTAS traded up $0.38 during trading on Thursday, hitting $222.10. 444,564 shares of the company were exchanged, compared to its average volume of 1,696,304. Cintas Co. has a fifty-two week low of $170.93 and a fifty-two week high of $229.24. The stock has a market cap of $89.68 billion, a price-to-earnings ratio of 53.55, a P/E/G ratio of 3.98 and a beta of 1.08. 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 firm has a fifty day moving average price of $214.01 and a two-hundred day moving average price of $205.71.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 yield of 0.70%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. UBS Group raised their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Truist Financial boosted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $215.81.

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.