Morse Asset Management Inc lowered its position in shares of Cintas Co. (NASDAQ:CTAS) by 29.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,400 shares of the business services provider’s stock after selling 1,000 shares during the period. Morse Asset Management Inc’s holdings in Cintas were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Cintas by 1.2% in the first quarter. Vanguard Group Inc. now owns 9,075,105 shares of the business services provider’s stock worth $1,148,365,000 after buying an additional 104,454 shares during the last quarter. BlackRock Inc. boosted its position in shares of Cintas by 1,737.2% in the first quarter. BlackRock Inc. now owns 6,465,344 shares of the business services provider’s stock worth $818,121,000 after buying an additional 6,113,425 shares during the last quarter. State Street Corp boosted its position in shares of Cintas by 1.1% in the first quarter. State Street Corp now owns 4,900,672 shares of the business services provider’s stock worth $620,135,000 after buying an additional 51,747 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Cintas by 2.0% in the first quarter. AQR Capital Management LLC now owns 1,512,980 shares of the business services provider’s stock worth $191,452,000 after buying an additional 30,228 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Cintas by 23.1% in the first quarter. FMR LLC now owns 1,417,504 shares of the business services provider’s stock worth $179,371,000 after buying an additional 265,971 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Shares of Cintas Co. (NASDAQ:CTAS) opened at 133.30 on Thursday. The firm’s 50-day moving average price is $130.22 and its 200 day moving average price is $123.88. The firm has a market cap of $14.05 billion, a PE ratio of 30.39 and a beta of 0.84. Cintas Co. has a 1-year low of $102.07 and a 1-year high of $139.74.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, July 20th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by $0.30. Cintas had a net margin of 5.31% and a return on equity of 13.63%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the company posted $1.08 EPS. Cintas’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts forecast that Cintas Co. will post $5.23 EPS for the current fiscal year.

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Several research firms recently commented on CTAS. Zacks Investment Research cut Cintas from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $130.00 price target on shares of Cintas in a report on Friday, July 21st. Nomura cut Cintas from a “buy” rating to a “neutral” rating in a report on Wednesday, June 28th. Morgan Stanley reaffirmed an “underweight” rating and issued a $117.00 price target (up previously from $107.00) on shares of Cintas in a report on Tuesday, July 25th. Finally, BidaskClub cut Cintas from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $133.42.

Cintas Company Profile

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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