Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,976 shares of the business services provider’s stock after selling 2,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cintas were worth $18,238,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of CTAS. Norges Bank bought a new stake in shares of Cintas during the 4th quarter worth $923,672,000. Two Sigma Investments LP boosted its holdings in shares of Cintas by 5,641.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after buying an additional 998,963 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Cintas by 2,653.0% during the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock worth $188,640,000 after buying an additional 966,597 shares during the period. Voloridge Investment Management LLC boosted its holdings in shares of Cintas by 275.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after buying an additional 823,885 shares during the period. Finally, Freestone Grove Partners LP boosted its holdings in shares of Cintas by 5,341.8% during the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after buying an additional 733,380 shares during the period. 63.46% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CTAS has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Robert W. Baird raised shares of 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 decreased their price objective 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. Finally, Bank of America initiated coverage on shares of Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $215.17.
Cintas Trading Down 0.1%
Shares of CTAS stock opened at $179.85 on Friday. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $229.24. The stock has a market cap of $71.96 billion, a price-to-earnings ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a fifty day moving average of $172.59 and a 200-day moving average of $184.49.
Cintas (NASDAQ:CTAS – Get Free Report) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.
Cintas Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is currently 50.85%.
Insider Activity
In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.90% of the company’s stock.
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.
Read More
- Five stocks we like better than Cintas
- Samsara Just Answered The AI Question—Is Wall Street Ready To Listen?
- IREN’s 800MW Bet Flips the AI Power Switch
- CrowdStrike Earnings Beat Sparks Selloff—Buy the Dip?
- Tesla’s EV Rebound Leaves Rivian and Lucid Facing a Tougher Investor Test
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.
