Impax Asset Management Group plc Raises Stock Holdings in Cintas Corporation $CTAS

Key Points

• Impax Asset Management increased its stake in Cintas by 29.5% in Q4 to 1,346,262 shares (about $253.19 million), making CTAS 1.6% of Impax’s portfolio and its 18th-largest holding.
• Cintas reported quarterly revenue up 8.9% with EPS of $1.24 meeting estimates, and declared a quarterly dividend of $0.45 ($1.80 annualized, ~1.0% yield; ex-dividend May 15).
• Analyst coverage is mixed — MarketBeat shows a consensus rating of "Hold" with an average price target of $215.17, while institutional ownership stands around 63.46%.

Impax Asset Management Group plc grew its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 29.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,346,262 shares of the business services provider's stock after acquiring an additional 307,036 shares during the quarter. Cintas accounts for 1.6% of Impax Asset Management Group plc's portfolio, making the stock its 18th biggest holding. Impax Asset Management Group plc owned about 0.34% of Cintas worth $253,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. boosted its holdings in Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider's stock worth $951,000 after acquiring an additional 54 shares in the last quarter. Woodward Diversified Capital LLC boosted its holdings in Cintas by 4.7% in the third quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider's stock worth $252,000 after acquiring an additional 55 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Cintas by 0.8% in the third quarter. Continuum Advisory LLC now owns 6,894 shares of the business services provider's stock worth $1,415,000 after acquiring an additional 56 shares in the last quarter. Mather Group LLC. boosted its holdings in Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider's stock worth $824,000 after acquiring an additional 59 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in Cintas by 4.8% in the third quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider's stock worth $267,000 after acquiring an additional 60 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Down 1.0%

Cintas stock opened at $175.90 on Friday. The stock has a market cap of $70.38 billion, a PE ratio of 49.69, a price-to-earnings-growth ratio of 3.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a one year low of $165.60 and a one year high of $229.24. The stock has a fifty day moving average of $185.31 and a 200 day moving average of $187.78.

Cintas (NASDAQ:CTAS - Get Free Report) last posted 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 company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 earnings per share. As a group, sell-side analysts predict that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

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

Analyst Ratings Changes

Several research firms have commented on CTAS. UBS Group reissued a "buy" rating on shares of Cintas in a report on Thursday, March 12th. Wells Fargo & Company raised Cintas from a "cautious" rating to an "overweight" rating and upped their price target for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Weiss Ratings downgraded Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. Robert W. Baird raised Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price target on the stock in a report on Wednesday, March 11th. Finally, Stifel Nicolaus lowered their price target on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $215.17.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 14.90% of the stock is currently owned by insiders.

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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