Cintas Corporation (NASDAQ:CTAS) Shares Purchased by Praxis Investment Management Inc.

Praxis Investment Management Inc. increased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,350 shares of the business services provider's stock after buying an additional 1,370 shares during the quarter. Praxis Investment Management Inc.'s holdings in Cintas were worth $1,922,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC acquired a new position in Cintas during the 4th quarter worth $29,000. IAG Wealth Partners LLC boosted its position 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 worth $33,000 after acquiring an additional 104 shares in the last quarter. Meeder Asset Management Inc. boosted its position 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 worth $35,000 after acquiring an additional 134 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Cintas in the 4th quarter valued at about $37,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Cintas in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTAS. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Morgan Stanley boosted their target price on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $215.81.

Insider Buying and Selling

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

Cintas Trading Down 0.8%

Shares of Cintas stock traded down $1.77 during trading hours on Friday, reaching $218.65. 2,667,477 shares of the company's stock were exchanged, compared to its average volume of 1,704,297. Cintas Corporation has a 52-week low of $172.20 and a 52-week high of $229.24. The firm has a market capitalization of $88.29 billion, a price-to-earnings ratio of 50.64, a price-to-earnings-growth ratio of 3.41 and a beta of 1.08. The company has a fifty day moving average of $217.23 and a 200-day moving average of $205.44. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results 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. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the company posted $3.84 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio (DPR) is currently 36.11%.

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.