Cintas Corporation $CTAS Shares Acquired by Nomura Asset Management Co. Ltd.

Key Points

• Nomura Asset Management increased its Cintas stake by 2.6% in the fourth quarter, buying 10,505 more shares and bringing its total to 415,315 shares valued at about $78.1 million.
• Several other institutional investors also added to their Cintas positions, and institutional ownership now stands at 63.46% of the stock.
• Insider activity included Director Ronald W. Tysoe selling 4,666 shares at $178.87 each, while Cintas also reported quarterly EPS of $1.24, met estimates, and declared a $0.45 quarterly dividend.

Nomura Asset Management Co. Ltd. raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 415,315 shares of the business services provider's stock after purchasing an additional 10,505 shares during the period. Nomura Asset Management Co. Ltd. owned 0.10% of Cintas worth $78,108,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Richardson Financial Services Inc. increased its position in shares of Cintas by 1.1% during the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider's stock worth $951,000 after purchasing an additional 54 shares in the last quarter. Woodward Diversified Capital LLC increased its position in shares of Cintas by 4.8% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider's stock worth $242,000 after purchasing an additional 59 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Cintas by 1.4% during the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider's stock valued at $824,000 after buying an additional 59 shares during the last quarter. Oakworth Capital Inc. grew its holdings in shares of Cintas by 4.8% during the third quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider's stock valued at $267,000 after buying an additional 60 shares during the last quarter. Finally, Ausdal Financial Partners Inc. grew its holdings in shares of Cintas by 2.8% during the second quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider's stock valued at $510,000 after buying an additional 63 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company's 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 sale, the director directly owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.90% of the company's stock.

Cintas Price Performance

Shares of CTAS opened at $171.26 on Friday. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $229.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm has a market capitalization of $68.52 billion, a PE ratio of 48.38, a price-to-earnings-growth ratio of 3.02 and a beta of 0.96. The company's fifty day moving average price is $172.93 and its 200-day moving average price is $184.84.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting 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 analyst estimates of $2.82 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The firm's revenue was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTAS shares. Bank of America started coverage on shares of Cintas in a report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price objective on the stock. Stifel Nicolaus dropped their price objective on shares of Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. 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 report on Wednesday, March 11th. UBS Group reissued a "buy" rating on shares of Cintas in a report on Thursday, March 12th. Finally, Citigroup dropped their price objective on shares of Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a report on Tuesday, March 31st. One equities research 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $215.17.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.