Quadrant Capital Group LLC raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,690 shares of the business services provider’s stock after purchasing an additional 3,180 shares during the quarter. Quadrant Capital Group LLC’s holdings in Cintas were worth $4,643,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cintas by 1.5% during the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after purchasing an additional 564,487 shares during the last quarter. Geode Capital Management LLC lifted its position in Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after purchasing an additional 97,220 shares during the last quarter. Norges Bank bought a new position in Cintas during the fourth quarter valued at $923,672,000. Nordea Investment Management AB lifted its position in Cintas by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after purchasing an additional 158,785 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Cintas by 0.5% during the third quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock valued at $524,460,000 after purchasing an additional 12,841 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. 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 report on Wednesday, March 11th. Citigroup lowered their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Bank of America assumed coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Finally, Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $215.17.
Insider Buying and Selling
In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.90% of the stock is owned by corporate insiders.
Cintas Price Performance
Cintas stock opened at $176.28 on Friday. The firm has a 50-day moving average price of $173.55 and a 200-day moving average price of $184.29. The firm has a market capitalization of $70.53 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75.
Cintas (NASDAQ:CTAS – Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. As a group, equities research analysts forecast that Cintas Corporation will post 4.89 EPS for the current year.
Cintas Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is currently 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.
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