MAI Capital Management Cuts Stake in Cintas Co. (CTAS)

MAI Capital Management trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 4.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,053 shares of the business services provider’s stock after selling 275 shares during the period. MAI Capital Management’s holdings in Cintas were worth $1,223,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CTAS. Nelson Roberts Investment Advisors LLC purchased a new position in Cintas during the fourth quarter worth about $25,000. Capital Financial Planning LLC purchased a new position in Cintas during the fourth quarter worth about $29,000. Financial Gravity Wealth Inc. purchased a new position in Cintas during the first quarter worth about $36,000. CWM LLC raised its holdings in Cintas by 52.4% during the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. Finally, Washington Trust Bank purchased a new position in Cintas during the first quarter worth about $45,000. 67.15% of the stock is owned by institutional investors and hedge funds.

In related news, Director Joseph Scaminace sold 6,255 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the sale, the director now owns 7,973 shares in the company, valued at $1,771,600.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas E. Frooman sold 2,415 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $207.81, for a total transaction of $501,861.15. Following the sale, the vice president now owns 122,251 shares in the company, valued at approximately $25,404,980.31. The disclosure for this sale can be found here. 19.10% of the stock is owned by corporate insiders.

Several brokerages have weighed in on CTAS. BidaskClub upgraded shares of Cintas from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 24th. ValuEngine upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research lowered shares of Cintas from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. upped their target price on shares of Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley upped their target price on shares of Cintas from $163.00 to $172.00 and gave the stock an “underweight” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $200.05.

Shares of CTAS stock traded down $0.72 during trading hours on Wednesday, hitting $226.29. The company’s stock had a trading volume of 337,700 shares, compared to its average volume of 479,095. The firm has a market capitalization of $23.60 billion, a PE ratio of 38.10, a P/E/G ratio of 2.46 and a beta of 1.08. Cintas Co. has a twelve month low of $155.98 and a twelve month high of $227.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.24 and a quick ratio of 1.89.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, March 21st. The business services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.71 by $0.13. The business had revenue of $1.68 million for the quarter, compared to analyst estimates of $1.69 billion. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The company’s quarterly revenue was down 99.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 7.46 earnings per share for the current year.

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Cintas Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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