Clearbridge Investments LLC reduced its holdings in Cintas Corporation (NASDAQ:CTAS – Free Report) by 5.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,005,754 shares of the business services provider’s stock after selling 55,694 shares during the quarter. Clearbridge Investments LLC’s holdings in Cintas were worth $189,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in CTAS. Norges Bank acquired a new stake in Cintas in the 4th quarter valued at approximately $923,672,000. Two Sigma Investments LP increased its position in Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after acquiring an additional 998,963 shares during the period. SG Americas Securities LLC increased its position in Cintas by 2,653.0% in the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock valued at $188,640,000 after acquiring an additional 966,597 shares during the period. Voloridge Investment Management LLC increased its position in Cintas by 275.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after acquiring an additional 823,885 shares during the period. Finally, Freestone Grove Partners LP increased its position in Cintas by 5,341.8% in the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock valued at $153,352,000 after acquiring an additional 733,380 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Cintas Price Performance
Shares of CTAS stock opened at $179.85 on Monday. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $229.24. The stock has a market cap of $71.96 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. The business’s fifty day moving average is $172.59 and its 200-day moving average is $184.49. 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 Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas’s payout ratio is presently 50.85%.
Analyst Upgrades and Downgrades
Several research firms recently commented on CTAS. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 11th. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Stifel Nicolaus lowered their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Citigroup lowered their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Finally, Bank of America initiated coverage on Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $215.17.
Check Out Our Latest Stock Analysis on CTAS
Insider Activity
In related news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction 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 in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 14.90% of the stock is owned by insiders.
About Cintas
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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