Envestnet Portfolio Solutions Inc. Sells 4,091 Shares of Cintas Corporation (NASDAQ:CTAS)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,552 shares of the business services provider's stock after selling 4,091 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cintas were worth $4,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after acquiring an additional 219,809 shares during the period. Invesco Ltd. raised its stake in Cintas by 6.1% during the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after acquiring an additional 296,059 shares during the period. Norges Bank bought a new stake in Cintas during the 4th quarter worth approximately $877,216,000. Northern Trust Corp raised its stake in Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after acquiring an additional 472,069 shares during the period. Finally, Royal Bank of Canada raised its stake in Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after acquiring an additional 115,268 shares during the period. Institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent analyst reports. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Morgan Stanley lifted 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. Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Bank of America started coverage on shares of Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective on the stock. Finally, Citigroup started coverage on shares of Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $215.81.

Insiders Place Their Bets

In other Cintas news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was 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 through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction 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 represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Trading Down 0.8%

CTAS stock opened at $218.65 on Friday. The firm has a fifty day moving average price of $217.23 and a 200 day moving average price of $205.44. Cintas Corporation has a fifty-two week low of $172.20 and a fifty-two week high of $229.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The firm has a market cap of $88.29 billion, a PE ratio of 50.64, a price-to-earnings-growth ratio of 3.41 and a beta of 1.07.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm posted $3.84 earnings per share. Cintas's revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's payout ratio is 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.

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