Impax Asset Management Group plc Has $194.91 Million Stock Position in Cintas Corporation (NASDAQ:CTAS)

Impax Asset Management Group plc decreased its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 48.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 952,049 shares of the business services provider's stock after selling 905,991 shares during the quarter. Cintas makes up about 1.2% of Impax Asset Management Group plc's holdings, making the stock its 26th biggest position. Impax Asset Management Group plc owned approximately 0.24% of Cintas worth $194,907,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. MJP Associates Inc. ADV increased its stake in shares of Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after purchasing an additional 50 shares during the last quarter. TIAA Trust National Association increased its stake in shares of Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after purchasing an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC increased its stake in shares of Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after purchasing an additional 52 shares during the last quarter. Johnson Financial Group Inc. increased its stake in shares of Cintas by 7.7% during the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock worth $146,000 after purchasing an additional 52 shares during the last quarter. Finally, Portside Wealth Group LLC increased its stake in shares of Cintas by 4.2% during the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider's stock worth $270,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Activity

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

Cintas Stock Up 1.5%

NASDAQ CTAS opened at $218.83 on Friday. 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 firm has a 50-day simple moving average of $220.01 and a 200 day simple moving average of $205.99. Cintas Corporation has a twelve month low of $174.44 and a twelve month high of $229.24. The stock has a market cap of $88.36 billion, a PE ratio of 50.68, a PEG ratio of 3.42 and a beta of 1.05.

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CTAS shares. Morgan Stanley raised their target price 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. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. The Goldman Sachs Group upped their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $219.58.

Cintas Profile

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.

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