Iams Wealth Management LLC Purchases 718 Shares of Cintas Co. (NASDAQ:CTAS)

Iams Wealth Management LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 39.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,525 shares of the business services provider’s stock after buying an additional 718 shares during the period. Iams Wealth Management LLC’s holdings in Cintas were worth $461,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CTAS. State Street Corp boosted its stake in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. FMR LLC boosted its stake in shares of Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. boosted its stake in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after buying an additional 1,904,926 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTAS shares. Robert W. Baird lowered their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley increased their target price on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $198.46.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $201.44 on Wednesday. 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 firm has a market capitalization of $81.29 billion, a PE ratio of 48.48, a P/E/G ratio of 3.84 and a beta of 1.37. Cintas Co. has a twelve month low of $148.87 and a twelve month high of $228.12. The company has a 50-day moving average price of $202.36 and a two-hundred day moving average price of $206.39.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm 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 company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $3.61 earnings per share. Equities analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.61%.

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.