Trueblood Wealth Management LLC Increases Stake in Cintas Co. (NASDAQ:CTAS)

Trueblood Wealth Management LLC grew its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 29.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,075 shares of the business services provider's stock after purchasing an additional 1,142 shares during the quarter. Trueblood Wealth Management LLC's holdings in Cintas were worth $1,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cyrus J. Lawrence LLC acquired a new position in Cintas during the 4th quarter worth about $29,000. IAG Wealth Partners LLC lifted its position in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas in the fourth quarter valued at approximately $34,000. Meeder Asset Management Inc. boosted its stake in shares of Cintas by 239.3% in the fourth 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 period. Finally, OFI Invest Asset Management acquired a new position in shares of Cintas in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction 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 sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Stock Performance

Shares of Cintas stock traded up $0.54 during trading hours on Thursday, hitting $222.26. 506,242 shares of the company were exchanged, compared to its average volume of 1,696,514. 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 business has a 50-day moving average of $214.01 and a 200-day moving average of $205.71. Cintas Co. has a 1 year low of $170.93 and a 1 year high of $229.24. The stock has a market capitalization of $89.75 billion, a price-to-earnings ratio of 53.59, a P/E/G ratio of 3.98 and a beta of 1.08.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating 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 business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the firm earned $3.84 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, 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. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is 36.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTAS shares. Bank of America initiated coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Truist Financial increased 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. UBS Group lifted their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" 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 target price for the company. in a research note on Thursday, May 1st. Finally, Argus upgraded Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $215.81.

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.