Cintas Corporation $CTAS Stake Lifted by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR boosted its Cintas stake by 36% in the fourth quarter, buying 8,807 additional shares to bring its total holdings to 33,246 shares worth about $6.25 million.
• Insider selling and broader institutional interest were notable: Director Ronald W. Tysoe sold 4,666 shares, while institutional investors still own about 63.46% of Cintas stock.
• Cintas reported solid quarterly results and maintains a dividend, with EPS of $1.24 matching estimates, revenue up 8.9% year over year, and a quarterly dividend of $0.45 per share payable June 15.

Generali Asset Management SPA SGR increased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,246 shares of the business services provider's stock after purchasing an additional 8,807 shares during the period. Generali Asset Management SPA SGR's holdings in Cintas were worth $6,253,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake 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 purchasing an additional 2,628 shares during the last quarter. First Trust Advisors LP grew its position in Cintas by 2.5% in the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider's stock worth $84,909,000 after buying an additional 10,249 shares during the last quarter. Prana Capital Management LP acquired a new position in Cintas in the third quarter worth approximately $14,312,000. Vanguard Group Inc. increased its holdings 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 buying an additional 564,487 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Cintas in the fourth quarter valued at $15,736,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on 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 sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.90% of the company's stock.

Cintas Price Performance

NASDAQ CTAS opened at $166.97 on Friday. The company has a 50 day simple moving average of $181.83 and a 200-day simple moving average of $186.85. 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 $66.80 billion, a price-to-earnings ratio of 47.17, a price-to-earnings-growth ratio of 2.99 and a beta of 0.96. Cintas Corporation has a 52-week low of $165.46 and a 52-week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts' consensus estimates 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 firm's revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. Equities research analysts predict that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTAS. Robert W. Baird raised Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a report on Tuesday, March 31st. UBS Group reiterated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Wells Fargo & Company raised Cintas from a "cautious" rating to an "overweight" rating and lifted their price target for the stock from $205.00 to $245.00 in a research note on Wednesday, January 14th. Finally, Weiss Ratings downgraded Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.

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