Enlightenment Research LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 1st quarter, Holdings Channel reports. The fund acquired 800 shares of the business services provider’s stock, valued at approximately $273,000.
Several other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Cintas by 1.6% during the 4th quarter. BlackRock Inc. now owns 6,115,051 shares of the business services provider’s stock valued at $2,161,425,000 after buying an additional 93,585 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Cintas by 63.4% during the first quarter. The Manufacturers Life Insurance Company now owns 1,048,541 shares of the business services provider’s stock valued at $357,878,000 after buying an additional 407,000 shares during the period. Norges Bank bought a new position in shares of Cintas during the fourth quarter valued at approximately $278,109,000. Nuveen Asset Management LLC raised its holdings in shares of Cintas by 14.5% in the fourth quarter. Nuveen Asset Management LLC now owns 551,590 shares of the business services provider’s stock worth $194,966,000 after buying an additional 69,990 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Cintas by 0.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 551,528 shares of the business services provider’s stock valued at $188,242,000 after acquiring an additional 2,486 shares during the period. 63.21% of the stock is owned by institutional investors and hedge funds.
CTAS has been the subject of several research analyst reports. William Blair upgraded Cintas from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 16th. Morgan Stanley lifted their price objective on shares of Cintas from $324.00 to $333.00 and gave the company an “equal weight” rating in a report on Thursday, March 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $378.00.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Tuesday, March 16th. The business services provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.15. Cintas had a net margin of 14.32% and a return on equity of 27.72%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts anticipate that Cintas Co. will post 9.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Saturday, May 15th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 13th. Cintas’s dividend payout ratio is presently 36.99%.
In related news, CAO Michael Lawrence Thompson sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $207.98, for a total value of $519,950.00. Following the sale, the chief accounting officer now owns 70,917 shares in the company, valued at $14,749,317.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 15.80% of the company’s stock.
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.
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