Arbejdsmarkedets Tillaegspension Takes $23.88 Million Position in Cintas Corporation $CTAS

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter stake in Cintas, buying 126,994 shares valued at about $23.9 million. Other institutional investors also added to or initiated positions, and institutions now own 63.46% of the stock.
• Cintas reported solid quarterly results, with EPS of $1.24 matching estimates and revenue of $2.84 billion, topping expectations and rising 8.9% year over year. Analysts currently have a consensus Hold rating with a target price of $215.17.
• The company announced a quarterly dividend of $0.45 per share, or $1.80 annually, for a yield of about 1.1%. Meanwhile, director Ronald W. Tysoe sold shares in April, and Cintas stock was trading around $165.95, near its 12-month low.

Arbejdsmarkedets Tillaegspension acquired a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 126,994 shares of the business services provider's stock, valued at approximately $23,884,000.

Several other large investors also recently made changes to their positions in CTAS. Brighton Jones LLC lifted its stake in Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after purchasing an additional 108 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock valued at $321,000 after purchasing an additional 428 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas in the 2nd quarter valued at about $625,000. Treasurer of the State of North Carolina lifted its stake in Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock valued at $47,291,000 after purchasing an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock valued at $20,710,000 after purchasing an additional 31,068 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CTAS shares. Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, January 21st. Weiss Ratings downgraded shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Citigroup cut 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. UBS Group restated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Finally, Robert W. Baird upgraded shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cintas has a consensus rating of "Hold" and a consensus target price of $215.17.

Cintas Stock Up 1.5%

Shares of CTAS opened at $165.95 on Friday. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $229.24. The firm's 50 day moving average is $178.37 and its 200-day moving average is $185.87. The stock has a market capitalization of $66.39 billion, a PE ratio of 46.88, a P/E/G ratio of 2.88 and a beta of 0.96. 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 (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS 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 company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same period last year, the firm earned $1.13 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts forecast that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas's dividend payout ratio (DPR) is currently 50.85%.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.90% of the company's stock.

Cintas Company 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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