DNB Asset Management AS boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 16.0% during the fourth quarter, Holdings Channel reports. The firm owned 117,145 shares of the business services provider’s stock after purchasing an additional 16,117 shares during the quarter. DNB Asset Management AS’s holdings in Cintas were worth $22,031,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Camelot Portfolios LLC bought a new position in Cintas during the fourth quarter valued at approximately $26,000. Key Capital Management INC bought a new position in Cintas during the fourth quarter valued at approximately $28,000. Triumph Capital Management bought a new position in Cintas during the third quarter valued at approximately $29,000. Ares Financial Consulting LLC bought a new position in Cintas during the fourth quarter valued at approximately $32,000. Finally, Aventura Private Wealth LLC bought a new position in Cintas during the fourth quarter valued at approximately $34,000. Institutional investors own 63.46% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on CTAS. Citigroup lowered their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Bank of America initiated coverage on shares of Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective on the stock. UBS Group restated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Finally, Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $215.17.
Insider Activity at Cintas
In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director directly owned 22,448 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 14.90% of the stock is owned by insiders.
Cintas Stock Performance
Shares of NASDAQ CTAS opened at $168.31 on Friday. The firm has a 50 day moving average of $177.74 and a 200 day moving average of $185.75. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $67.34 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $229.24.
Cintas (NASDAQ:CTAS – Get Free Report) last announced its 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. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. On average, research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.
Cintas Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.
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.
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