ASR Vermogensbeheer N.V. Acquires New Stake in Cintas Corporation (NASDAQ:CTAS)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Cintas Corporation, purchasing 8,662 shares valued at approximately $1.78 million during the first quarter.
• Cintas has been receiving mixed ratings from brokerages, with target prices ranging from $171.00 to $257.00, showcasing a consensus rating of "Hold" for the stock.
• The company increased its quarterly dividend to $0.45 per share, payable on September 15th, up from the previous $0.39, indicating a commitment to returning value to shareholders.

ASR Vermogensbeheer N.V. purchased a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,662 shares of the business services provider's stock, valued at approximately $1,780,000.

A number of other large investors also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI lifted its holdings in Cintas by 0.9% during the first quarter. Citizens Financial Group Inc. RI now owns 42,684 shares of the business services provider's stock worth $8,773,000 after acquiring an additional 391 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in shares of Cintas in the first quarter worth about $46,000. Vanguard Group Inc. increased its holdings in shares of Cintas by 1.3% in the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after acquiring an additional 491,307 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Cintas by 120.1% in the first quarter. Wealthspire Advisors LLC now owns 8,984 shares of the business services provider's stock worth $1,846,000 after acquiring an additional 4,903 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Cintas by 4.2% in the first quarter. iA Global Asset Management Inc. now owns 56,270 shares of the business services provider's stock worth $11,565,000 after acquiring an additional 2,267 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Mucci bought 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The stock was acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director directly owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 15.00% of the company's stock.

Cintas Trading Down 0.3%

Shares of CTAS stock traded down $0.57 during mid-day trading on Tuesday, hitting $223.31. The company's stock had a trading volume of 1,399,238 shares, compared to its average volume of 1,691,793. The company's fifty day simple moving average is $221.32 and its 200-day simple moving average is $211.62. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The company has a market cap of $89.99 billion, a PE ratio of 50.64, a P/E/G ratio of 3.90 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the company posted $3.99 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Cintas's previous quarterly dividend of $0.39. Cintas's payout ratio is presently 35.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTAS. UBS Group increased their price target on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 price target (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target on the stock. Finally, Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.