Prossimo Advisors LLC Acquires 1,271 Shares of Cintas Co. (NASDAQ:CTAS)

Prossimo Advisors LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,887 shares of the business services provider’s stock after purchasing an additional 1,271 shares during the quarter. Cintas comprises approximately 2.0% of Prossimo Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Prossimo Advisors LLC’s holdings in Cintas were worth $2,720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTAS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Cintas in the fourth quarter valued at $879,000. Kestra Investment Management LLC acquired a new position in Cintas in the 4th quarter valued at about $55,000. Venturi Wealth Management LLC increased its stake in Cintas by 10.2% during the fourth quarter. Venturi Wealth Management LLC now owns 12,172 shares of the business services provider’s stock worth $2,224,000 after purchasing an additional 1,125 shares during the period. Truist Financial Corp increased its stake in Cintas by 11.8% during the fourth quarter. Truist Financial Corp now owns 42,238 shares of the business services provider’s stock worth $7,717,000 after purchasing an additional 4,447 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Cintas by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 122,390 shares of the business services provider’s stock worth $22,361,000 after purchasing an additional 4,239 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group cut their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley boosted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Robert W. Baird dropped their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group lowered their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company dropped their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Down 0.2 %

CTAS stock opened at $203.74 on Wednesday. Cintas Co. has a one year low of $152.77 and a one year high of $228.12. The company has a 50 day moving average price of $196.84 and a two-hundred day moving average price of $207.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market capitalization of $82.22 billion, a P/E ratio of 49.12, a PEG ratio of 3.95 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.61 earnings per share. As a group, sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas’s dividend payout ratio (DPR) is 37.59%.

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.