Western Wealth Management LLC Decreases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Western Wealth Management LLC trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,566 shares of the business services provider’s stock after selling 40 shares during the quarter. Western Wealth Management LLC’s holdings in Cintas were worth $2,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CTAS. Financial Gravity Wealth Inc. bought a new position in Cintas during the first quarter valued at $36,000. Coastal Investment Advisors Inc. bought a new position in Cintas during the second quarter valued at $36,000. CWM LLC grew its holdings in Cintas by 52.4% during the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 66 shares during the period. Sonora Investment Management LLC bought a new position in Cintas during the second quarter valued at $42,000. Finally, Lenox Wealth Management Inc. grew its holdings in Cintas by 20.5% during the second quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 40 shares during the period. 68.31% of the stock is owned by institutional investors.

Several equities analysts have weighed in on CTAS shares. Bank of America reissued a “buy” rating and set a $287.00 price objective (up from $261.00) on shares of Cintas in a report on Tuesday, August 13th. William Blair reissued a “buy” rating on shares of Cintas in a report on Thursday, June 20th. Nomura increased their price objective on Cintas from $217.00 to $248.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Barclays reissued a “buy” rating and set a $265.00 price objective on shares of Cintas in a report on Thursday, July 18th. Finally, Credit Suisse Group increased their price objective on Cintas from $160.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $241.44.

In related news, insider Michael Lawrence Thompson sold 4,888 shares of Cintas stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total transaction of $1,274,741.52. Following the completion of the sale, the insider now owns 69,053 shares of the company’s stock, valued at $18,008,331.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Frooman sold 5,373 shares of Cintas stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total value of $1,401,224.67. Following the sale, the vice president now directly owns 127,624 shares of the company’s stock, valued at approximately $33,283,062.96. The disclosure for this sale can be found here. 19.10% of the stock is owned by company insiders.

Shares of Cintas stock traded down $6.23 during trading hours on Friday, reaching $258.29. The company had a trading volume of 18,119 shares, compared to its average volume of 514,452. Cintas Co. has a one year low of $155.98 and a one year high of $270.36. The business has a fifty day simple moving average of $255.99 and a 200 day simple moving average of $224.78. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.98 and a quick ratio of 1.69. The firm has a market cap of $27.45 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Tuesday, July 16th. The business services provider reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.13. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the company earned $1.77 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts forecast that Cintas Co. will post 8.45 EPS for the current year.

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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