Rockland Trust Co. Sells 395 Shares of Cintas Co. (NASDAQ:CTAS)

Rockland Trust Co. lessened its position in Cintas Co. (NASDAQ:CTAS) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,263 shares of the business services provider’s stock after selling 395 shares during the period. Rockland Trust Co.’s holdings in Cintas were worth $231,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CTAS. Axxcess Wealth Management LLC increased its position in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Cintas by 1.9% during the 2nd quarter. E Fund Management Co. Ltd. now owns 997 shares of the business services provider’s stock worth $698,000 after acquiring an additional 19 shares during the period. Evergreen Capital Management LLC increased its holdings in shares of Cintas by 4.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 827 shares of the business services provider’s stock worth $579,000 after acquiring an additional 38 shares during the last quarter. Moors & Cabot Inc. raised its stake in Cintas by 6.9% in the 2nd quarter. Moors & Cabot Inc. now owns 757 shares of the business services provider’s stock valued at $530,000 after acquiring an additional 49 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Cintas by 1.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,664 shares of the business services provider’s stock valued at $5,053,000 after purchasing an additional 65 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Up 1.8 %

Shares of Cintas stock opened at $195.70 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $146.29 and a 12-month high of $228.12. The company has a market capitalization of $78.97 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 4.16 and a beta of 1.37. The firm’s 50-day moving average price is $206.61 and its two-hundred day moving average price is $204.87.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business posted $3.61 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.80%. Cintas’s dividend payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTAS. UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley raised their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. The Goldman Sachs Group dropped their price target on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Jefferies Financial Group decreased their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $198.46.

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.