Nomura Asset Management Co. Ltd. grew its position in Cintas Corporation (NASDAQ:CTAS – Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 415,315 shares of the business services provider’s stock after acquiring an additional 10,505 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Cintas were worth $78,108,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position 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. Geode Capital Management LLC raised its position in shares of Cintas by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after acquiring an additional 97,220 shares during the period. Norges Bank acquired a new position in shares of Cintas in the fourth quarter worth about $923,672,000. Nordea Investment Management AB raised its position in shares of Cintas by 6.2% in the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock worth $517,466,000 after acquiring an additional 158,785 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Cintas by 0.5% in the third quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock worth $524,460,000 after acquiring an additional 12,841 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.
Insider Buying and Selling at Cintas
In related news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is currently owned by company insiders.
Cintas Stock Down 1.0%
Cintas (NASDAQ:CTAS – Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.
Cintas Announces Dividend
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 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 is 50.85%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on CTAS shares. Weiss Ratings downgraded shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Bank of America started coverage on shares of Cintas in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective for the company. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Stifel Nicolaus decreased their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Finally, Citigroup decreased their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research report on Tuesday, March 31st. One 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $215.17.
Get Our Latest Stock Analysis on CTAS
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.
Featured Articles
- Five stocks we like better than Cintas
- Costco’s Strong Quarter Still Leaves Investors With a Valuation Problem
- These 3 Software Stocks Are Buying Back Shares Hand Over Fist
- Gap Inc. Cuts Sales Outlook After Q1 Miss, Shares Drop 17%
- MongoDB’s AI Advantage Is Starting to Show Up in Results
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS – Free Report).
Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
