Bridges Investment Management Inc. Has $49.63 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Bridges Investment Management Inc. reduced its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 0.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 271,631 shares of the business services provider’s stock after selling 2,224 shares during the period. Bridges Investment Management Inc.’s holdings in Cintas were worth $49,627,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hollencrest Capital Management boosted its stake in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Sound Income Strategies LLC bought a new position in Cintas in the 4th quarter valued at approximately $27,000. Addison Advisors LLC grew its stake in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of Cintas during the fourth quarter worth $31,000. Finally, Quintet Private Bank Europe S.A. lifted its stake in shares of Cintas by 357.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 160 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 2.0 %

Shares of CTAS stock opened at $207.50 on Friday. The company has a market cap of $83.74 billion, a P/E ratio of 50.03, a PEG ratio of 3.98 and a beta of 1.38. Cintas Co. has a fifty-two week low of $154.15 and a fifty-two week high of $228.12. The stock has a 50 day simple moving average of $197.13 and a two-hundred day simple moving average of $208.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating 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%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.61 EPS. Research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley boosted their target price 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. Finally, Wells Fargo & Company dropped their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.79.

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.