Nisa Investment Advisors LLC Trims Stock Holdings in Cintas Corporation (NASDAQ:CTAS)

Nisa Investment Advisors LLC lowered its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,802 shares of the business services provider's stock after selling 15,173 shares during the quarter. Nisa Investment Advisors LLC's holdings in Cintas were worth $32,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CTAS. Cyrus J. Lawrence LLC bought a new position in shares of Cintas during the 4th quarter valued at $29,000. IAG Wealth Partners LLC grew its holdings in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Cintas during the 4th quarter valued at $37,000. Finally, VSM Wealth Advisory LLC bought a new stake in Cintas in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CTAS. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Truist Financial upped their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target on the stock. Finally, Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $219.58.

Cintas Stock Down 0.5%

Shares of CTAS stock traded down $1.12 during mid-day trading on Friday, hitting $215.44. 1,035,324 shares of the stock traded hands, compared to its average volume of 1,667,236. The stock has a market cap of $86.99 billion, a P/E ratio of 49.90, a P/E/G ratio of 3.38 and a beta of 1.05. The stock's fifty day moving average is $220.56 and its two-hundred day moving average is $206.71. Cintas Corporation has a 52-week low of $178.42 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 15.00% of the company's stock.

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.