Lazard Asset Management LLC Sells 14,723 Shares of Cintas Co. (NASDAQ:CTAS)

Lazard Asset Management LLC reduced its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,312 shares of the business services provider's stock after selling 14,723 shares during the quarter. Lazard Asset Management LLC's holdings in Cintas were worth $21,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new position in Cintas in the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in Cintas during the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in Cintas during the fourth quarter worth approximately $31,000. IAG Wealth Partners LLC increased its holdings in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after buying an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Cintas in the fourth quarter valued at $34,000. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

CTAS traded up $2.36 during midday trading on Friday, reaching $220.85. 1,430,885 shares of the company's stock were exchanged, compared to its average volume of 1,705,578. The firm has a market capitalization of $89.18 billion, a price-to-earnings ratio of 53.25, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a one year low of $164.93 and a one year high of $228.12. The business has a 50-day simple moving average of $204.52 and a two-hundred day simple moving average of $204.73.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.84 earnings per share. As a group, research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, May 15th. Cintas's payout ratio is 36.11%.

Insider Transactions at Cintas

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 sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas 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 of the company's stock, valued at $5,647,979.84. This represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Truist Financial increased their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price on the stock. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $213.88.

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.