Securian Asset Management Inc. Sells 596 Shares of Cintas Co. (NASDAQ:CTAS)

Securian Asset Management Inc. trimmed its stake in shares of Cintas Co. (NASDAQ:CTAS) by 3.1% during the fourth quarter, HoldingsChannel reports. The fund owned 18,353 shares of the business services provider’s stock after selling 596 shares during the period. Securian Asset Management Inc.’s holdings in Cintas were worth $3,353,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Impax Asset Management Group plc lifted its holdings in shares of Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Cintas by 295.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,366 shares of the business services provider’s stock valued at $281,000 after buying an additional 1,021 shares during the last quarter. Assetmark Inc. lifted its stake in Cintas by 406.4% in the 3rd quarter. Assetmark Inc. now owns 7,343 shares of the business services provider’s stock valued at $1,512,000 after acquiring an additional 5,893 shares in the last quarter. Atria Investments Inc boosted its position in Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after acquiring an additional 16,623 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of Cintas by 370.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,549 shares of the business services provider’s stock worth $319,000 after acquiring an additional 1,220 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Down 2.2 %

CTAS stock opened at $192.21 on Thursday. The stock has a market cap of $77.57 billion, a price-to-earnings ratio of 46.34, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a fifty day moving average price of $199.71 and a two-hundred day moving average price of $209.24. Cintas Co. has a one year low of $154.83 and a one year high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion for 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.61 EPS. Equities analysts anticipate 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 of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.81%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CTAS shares. Wells Fargo & Company cut their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research 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 research note on Friday, December 20th. Truist Financial decreased their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Robert W. Baird dropped their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Finally, Citigroup started coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.79.

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.