M&T Bank Corp Has $16.52 Million Stock Position in Cintas Corporation $CTAS

M&T Bank Corp lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 254.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,855 shares of the business services provider’s stock after buying an additional 63,100 shares during the period. M&T Bank Corp’s holdings in Cintas were worth $16,523,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTAS. Brighton Jones LLC boosted its stake in shares of Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after buying an additional 108 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after buying an additional 428 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Cintas in the 2nd quarter valued at approximately $625,000. Treasurer of the State of North Carolina boosted its holdings in shares of Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after buying an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after buying an additional 31,068 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Up 1.7%

Shares of NASDAQ:CTAS opened at $177.62 on Friday. The company has a 50-day simple moving average of $185.66 and a 200 day simple moving average of $187.94. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24. The company has a market capitalization of $71.06 billion, a P/E ratio of 50.18, a price-to-earnings-growth ratio of 3.07 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98.

Cintas (NASDAQ:CTAS) last announced 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 business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the firm posted $1.13 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

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 issued a dividend of $0.45 per share. 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 dividend payout ratio (DPR) is currently 50.85%.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent analyst reports. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and increased their price objective for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Finally, Stifel Nicolaus cut their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $215.17.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.90% of the stock is owned by corporate insiders.

Cintas Company 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.