Wealth Enhancement Advisory Services LLC Sells 189,554 Shares of Cintas Corporation $CTAS

Key Points

• Wealth Enhancement Advisory Services LLC trimmed its holdings in Cintas by 62.3% in Q4, selling 189,554 shares and leaving it with 114,750 shares valued at about $21.5 million.
• Cintas paid a quarterly dividend of $0.45 on March 13 (ex-dividend Feb 13), equal to a $1.80 annualized payout with a 1.0% yield and a 52.48% payout ratio.
• Analysts have an average rating of Moderate Buy with an average price target of $220.25, and notable upgrades include Robert W. Baird to "outperform" with a $250 target and Weiss Ratings to "buy."

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 62.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,750 shares of the business services provider's stock after selling 189,554 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Cintas were worth $21,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Cintas by 2.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider's stock worth $20,501,000 after buying an additional 2,628 shares during the period. First Trust Advisors LP raised its stake in shares of Cintas by 2.5% in the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider's stock valued at $84,909,000 after acquiring an additional 10,249 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Cintas by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider's stock worth $7,994,594,000 after acquiring an additional 564,487 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Cintas by 197.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 9,344 shares of the business services provider's stock worth $1,858,000 after acquiring an additional 6,202 shares during the last quarter. Finally, Prana Capital Management LP purchased a new position in shares of Cintas during the 3rd quarter worth about $14,312,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Trading Down 1.7%

CTAS opened at $178.13 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. The stock's fifty day moving average is $194.42 and its two-hundred day moving average is $192.08. The company has a market capitalization of $71.23 billion, a P/E ratio of 51.93, a PEG ratio of 3.27 and a beta of 0.95. Cintas Corporation has a 52 week low of $177.53 and a 52 week high of $229.24.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, February 13th. Cintas's payout ratio is presently 52.48%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTAS. Bank of America initiated coverage on shares of Cintas in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $206.00 price target on shares of Cintas in a report on Friday, December 19th. Weiss Ratings upgraded Cintas from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, March 17th. Robert W. Baird raised Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective on the stock in a research report on Wednesday, March 11th. Finally, UBS Group reiterated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $220.25.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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