Lord Abbett & CO. LLC Has $22.93 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Lord Abbett & CO. LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 8.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 125,500 shares of the business services provider's stock after purchasing an additional 10,000 shares during the quarter. Lord Abbett & CO. LLC's holdings in Cintas were worth $22,929,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in Cintas in the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new stake in Cintas during the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the 4th quarter valued at $31,000. IAG Wealth Partners LLC grew its position in 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 acquiring an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Cintas in the fourth quarter valued at approximately $34,000. 63.46% of the stock is owned by institutional investors.

Insider Transactions at Cintas

In related 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 value of $380,740.00. Following the completion of the sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Cintas Trading Up 1.2 %

NASDAQ:CTAS traded up $2.42 during trading hours on Wednesday, reaching $211.68. 2,053,483 shares of the stock were exchanged, compared to its average volume of 1,700,072. The business has a 50-day moving average of $201.68 and a two-hundred day moving average of $204.36. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $85.47 billion, a price-to-earnings ratio of 51.04, a PEG ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The company 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 firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.84 EPS. On average, equities analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.74%. Cintas's payout ratio is currently 36.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CTAS shares. Robert W. Baird increased their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. The Goldman Sachs Group raised their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. UBS Group lifted their target price 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. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cintas presently has a consensus rating of "Hold" and a consensus price target of $213.62.

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.