Arbejdsmarkedets Tillaegspension Increases Holdings in Cintas Corporation $CTAS

Key Points

• Arbejdsmarkedets Tillaegspension increased its Cintas stake by 12.3% in Q1, buying 15,570 more shares and bringing its total holdings to 142,564 shares valued at about $24.1 million.
• Several other institutional investors also adjusted their positions in Cintas, and hedge funds and other institutions now own 63.46% of the stock.
• Cintas shares were trading at $183.75, while Wall Street sentiment remains mixed-to-cautious with a consensus Hold rating and an average price target of $211.25.

Arbejdsmarkedets Tillaegspension boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 12.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 142,564 shares of the business services provider's stock after buying an additional 15,570 shares during the period. Arbejdsmarkedets Tillaegspension's holdings in Cintas were worth $24,113,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Prana Capital Management LP acquired a new stake in Cintas during the third quarter worth $14,312,000. Union Bancaire Privee UBP SA acquired a new position in shares of Cintas in the 4th quarter valued at $15,736,000. California Public Employees Retirement System lifted its stake in shares of Cintas by 19.0% in the 3rd quarter. California Public Employees Retirement System now owns 792,816 shares of the business services provider's stock valued at $162,733,000 after purchasing an additional 126,845 shares during the last quarter. Caledonia Investments PLC purchased a new position in shares of Cintas during the 4th quarter worth $33,287,000. Finally, Riverbridge Partners LLC grew its holdings in shares of Cintas by 7.7% during the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider's stock worth $38,760,000 after purchasing an additional 16,437 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of Cintas stock opened at $183.75 on Tuesday. The business has a 50-day moving average of $173.37 and a 200 day moving average of $182.58. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The stock has a market capitalization of $73.52 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of recent analyst reports. Weiss Ratings raised Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday. Bank of America decreased their target price on shares of Cintas from $215.00 to $200.00 and set a "neutral" rating on the stock in a research report on Monday, June 29th. Stifel Nicolaus lowered their target price on shares of Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Citigroup dropped their price target 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. Finally, Truist Financial reduced their price target on shares of Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $211.25.

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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