Generate Investment Management Ltd Purchases New Holdings in Cintas Corporation (NASDAQ:CTAS)

Generate Investment Management Ltd bought a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,527 shares of the business services provider's stock, valued at approximately $12,029,000.

Several other institutional investors and hedge funds also recently modified their holdings of CTAS. Cyrus J. Lawrence LLC acquired a new position in Cintas in the 4th quarter valued at about $29,000. IAG Wealth Partners LLC raised its position in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after buying an additional 104 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after buying an additional 134 shares during the period. OFI Invest Asset Management acquired a new stake in Cintas during the fourth quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Cintas in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Buying and Selling at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research report on Thursday, May 1st. Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cintas has a consensus rating of "Hold" and a consensus target price of $215.81.

Cintas Trading Down 1.8%

CTAS traded down $3.96 on Wednesday, reaching $219.24. 1,280,172 shares of the company's stock were exchanged, compared to its average volume of 1,699,941. Cintas Corporation has a twelve month low of $172.20 and a twelve month high of $229.24. The company's 50 day moving average is $217.76 and its 200-day moving average is $205.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The company has a market cap of $88.53 billion, a price-to-earnings ratio of 50.78, a PEG ratio of 3.45 and a beta of 1.07.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.84 earnings per share. Equities analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas's dividend payout ratio is currently 36.11%.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.