Cintas Corporation $CTAS Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS trimmed its stake in Cintas (NASDAQ:CTAS) by 9.7%, selling 21,100 shares and leaving it with 196,500 shares valued at about $36.96 million at quarter-end.
• Director Ronald W. Tysoe sold 4,666 shares on April 20 at an average price of $178.87 for roughly $834,607, reducing his holding by 17.21% to 22,448 shares.
• Cintas declared a quarterly dividend of $0.45 (annualized $1.80, yield ~1.0%) payable June 15 to shareholders of record on May 15.

KLP Kapitalforvaltning AS decreased its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,500 shares of the business services provider's stock after selling 21,100 shares during the period. KLP Kapitalforvaltning AS's holdings in Cintas were worth $36,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. Key Capital Management INC acquired a new position in Cintas during the 4th quarter worth approximately $28,000. Triumph Capital Management acquired a new position in Cintas during the 3rd quarter worth approximately $29,000. Alpine Bank Wealth Management boosted its stake in shares of Cintas by 1,092.9% during the 3rd quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock worth $34,000 after acquiring an additional 153 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Cintas during the 4th quarter worth approximately $34,000. Finally, WPG Advisers LLC boosted its stake in shares of Cintas by 90.0% during the 3rd quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock worth $35,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Transactions at Cintas

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

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $174.66 on Thursday. The business's 50 day simple moving average is $186.03 and its 200-day simple moving average is $188.01. The firm has a market capitalization of $69.88 billion, a price-to-earnings ratio of 49.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. Cintas Corporation has a 12 month low of $165.60 and a 12 month high of $229.24.

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

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas's dividend payout ratio is presently 50.85%.

Wall Street Analyst Weigh In

CTAS has been the topic of several research analyst reports. Wells Fargo & Company raised Cintas from a "cautious" rating to an "overweight" rating and boosted their price target for the stock from $205.00 to $245.00 in a research note on Wednesday, January 14th. Citigroup decreased their price target on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research note on Tuesday, March 31st. UBS Group reissued a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. Stifel Nicolaus decreased their price target on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. Finally, Argus raised Cintas to a "strong-buy" rating in a research note on Wednesday, January 21st. 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 assigned a Sell rating to the company. According to MarketBeat.com, Cintas currently has an average rating of "Hold" and an average target price of $215.17.

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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