Cintas Corporation $CTAS Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D cut its stake in Cintas (NASDAQ:CTAS) by 4.7% in Q4, selling 6,033 shares and leaving it with 123,095 shares valued at about $23.15 million.
• Cintas reported Q results of $1.24 EPS (in line with estimates) and $2.84 billion in revenue (slightly above estimates), with revenue up 8.9% year‑over‑year and strong profitability (net margin ~17.6%, ROE ~41.5%).
• The company declared a quarterly dividend of $0.45 (annualized $1.80, ~1.0% yield) and faces mixed analyst sentiment—MarketBeat shows an average rating of "Hold" with a consensus target of $215.17.

State of New Jersey Common Pension Fund D lowered its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 123,095 shares of the business services provider's stock after selling 6,033 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Cintas were worth $23,150,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Cintas by 2.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider's stock valued at $20,501,000 after buying an additional 2,628 shares during the period. First Trust Advisors LP grew its position in shares of Cintas by 2.5% in the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider's stock valued at $84,909,000 after purchasing an additional 10,249 shares during the period. Vanguard Group Inc. grew its position in shares of Cintas by 1.5% in the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider's stock valued at $7,994,594,000 after purchasing an additional 564,487 shares during the period. Prana Capital Management LP acquired a new stake in shares of Cintas in the third quarter valued at about $14,312,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Cintas in the fourth quarter valued at about $15,736,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Up 0.4%

Shares of NASDAQ CTAS opened at $174.71 on Friday. The company's 50-day simple moving average is $183.59 and its 200-day simple moving average is $187.22. 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 firm has a market cap of $69.90 billion, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 3.06 and a beta of 1.01. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24.

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

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas's dividend payout ratio (DPR) is currently 50.85%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research analyst reports. Weiss Ratings lowered shares of Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Wells Fargo & Company upgraded shares of Cintas from a "cautious" rating to an "overweight" rating and lifted their target price for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. Citigroup dropped their target price on shares of Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research report on Tuesday, March 31st. Robert W. Baird upgraded shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 target price on the stock in a research report on Wednesday, March 11th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $215.17.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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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