BI Asset Management Fondsmaeglerselskab A S Has $8.74 Million Stake in Cintas Corporation $CTAS

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its Cintas stake by 150.9% in the first quarter, buying an additional 31,084 shares and bringing its total holdings to 51,683 shares worth about $8.74 million.
• Cintas reported quarterly earnings in line with expectations, posting $1.24 EPS on revenue of $2.84 billion, with revenue up 8.9% year over year. Analysts now expect the company to earn 4.89 EPS for the full year.
• The company recently paid a quarterly dividend of $0.45 per share, or $1.80 annualized, for a yield of about 1.1%. Meanwhile, analysts have a consensus rating of “Hold” with an average price target of $215.92.

BI Asset Management Fondsmaeglerselskab A S increased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 150.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,683 shares of the business services provider's stock after purchasing an additional 31,084 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Cintas were worth $8,742,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its position in Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock worth $321,000 after buying an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Cintas in the 2nd quarter worth approximately $625,000. Treasurer of the State of North Carolina raised its stake in Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock worth $47,291,000 after acquiring an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Price Performance

Cintas stock opened at $170.85 on Monday. The business's 50-day simple moving average is $173.50 and its 200 day simple moving average is $183.87. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The stock has a market cap of $68.36 billion, a price-to-earnings ratio of 48.26, a P/E/G ratio of 2.72 and a beta of 0.94. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts' consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the firm posted $1.13 earnings per share. Cintas's revenue was up 8.9% compared to the same quarter last year. As a group, research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 15th. Cintas's payout ratio is currently 50.85%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTAS. Stifel Nicolaus dropped their target price 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. UBS Group restated a "buy" rating on shares of Cintas in a research 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 on the stock in a research note on Wednesday, March 11th. Truist Financial dropped their price objective on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a report on Monday, June 15th. Finally, Weiss Ratings downgraded Cintas from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cintas presently has a consensus rating of "Hold" and an average price target of $215.92.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.

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