Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 47.9% in the first quarter, Holdings Channel reports. The fund owned 432 shares of the business services provider’s stock after acquiring an additional 140 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cintas were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Capital Financial Planning LLC purchased a new stake in Cintas in the fourth quarter worth $29,000. Financial Gravity Wealth Inc. purchased a new stake in Cintas in the first quarter worth $36,000. CWM LLC increased its position in Cintas by 52.4% in the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after buying an additional 66 shares during the last quarter. Washington Trust Bank purchased a new stake in Cintas in the first quarter worth $45,000. Finally, Lindbrook Capital LLC purchased a new stake in Cintas in the fourth quarter worth $105,000. 67.09% of the stock is owned by institutional investors.
CTAS has been the subject of a number of recent research reports. BidaskClub downgraded Cintas from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $248.00 target price for the company in a research report on Thursday, May 16th. JPMorgan Chase & Co. raised their target price on 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 raised their target price on 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 given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $200.05.
In other news, Director Joseph Scaminace sold 6,255 shares of Cintas stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $222.20, for a total value of $1,389,861.00. Following the completion of the transaction, the director now directly 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 is available through the SEC website. Also, VP Thomas E. Frooman sold 2,415 shares of Cintas stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $207.81, for a total value of $501,861.15. Following the completion of the transaction, the vice president now owns 122,251 shares of the company’s stock, valued at $25,404,980.31. The disclosure for this sale can be found here. 19.10% of the stock is currently owned by insiders.
Shares of NASDAQ CTAS opened at $236.37 on Friday. The firm has a market capitalization of $24.72 billion, a PE ratio of 39.79, a P/E/G ratio of 2.33 and a beta of 1.00. Cintas Co. has a fifty-two week low of $155.98 and a fifty-two week high of $237.45. 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 announced its quarterly earnings results on Thursday, March 21st. The business services provider reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.13. The company had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $1.69 billion. Cintas had a return on equity of 25.85% and a net margin of 12.44%. The firm’s quarterly revenue was down 99.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 earnings per share. As a group, equities research analysts predict that Cintas Co. will post 7.46 earnings per share for the current year.
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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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