Novem Group Has $245,000 Stock Holdings in Cintas Corporation $CTAS

Novem Group trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS) by 76.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,302 shares of the business services provider’s stock after selling 4,172 shares during the quarter. Novem Group’s holdings in Cintas were worth $245,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Cintas by 2.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock worth $20,501,000 after acquiring an additional 2,628 shares during the period. First Trust Advisors LP lifted its stake in shares of Cintas by 2.5% in the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after acquiring an additional 10,249 shares during the period. Vanguard Group Inc. lifted its stake in shares of Cintas by 1.5% in the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after acquiring an additional 564,487 shares during the period. Prana Capital Management LP acquired a new position in shares of Cintas in the third quarter worth approximately $14,312,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Cintas in the fourth quarter worth approximately $15,736,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTAS shares. Stifel Nicolaus cut their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and boosted their price target for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. Finally, Argus raised Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $215.17.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.90% of the company’s stock.

Cintas Price Performance

Shares of CTAS opened at $174.66 on Thursday. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The business’s 50 day moving average price is $186.03 and its two-hundred day moving average price is $188.01. The firm has a market cap of $69.88 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s payout ratio is 50.85%.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.