ING Groep NV Sells 13,483 Shares of Cintas Corporation $CTAS

Key Points

• ING Groep NV cut its Cintas stake by 3.6% in the fourth quarter, selling 13,483 shares and leaving it with 362,913 shares valued at about $68.3 million.
• Cintas reported solid quarterly results, matching EPS expectations at $1.24 and beating revenue estimates with $2.84 billion in sales, up 8.9% year over year.
• The company also announced a quarterly dividend of $0.45 per share, payable June 15, while analysts currently hold a consensus “Hold” rating with a $215.17 target price.

ING Groep NV trimmed its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,913 shares of the business services provider's stock after selling 13,483 shares during the quarter. ING Groep NV owned 0.09% of Cintas worth $68,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTAS. Brighton Jones LLC boosted its position in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after acquiring an additional 108 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock valued at $321,000 after acquiring an additional 428 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Cintas in the second quarter valued at approximately $625,000. Treasurer of the State of North Carolina boosted its position in shares of Cintas by 20.3% in the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock valued at $47,291,000 after acquiring an additional 35,781 shares during the period. Finally, Ieq Capital LLC boosted its position in shares of Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock valued at $20,710,000 after acquiring an additional 31,068 shares during the period. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

Cintas stock opened at $179.85 on Friday. 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 stock has a fifty day moving average price of $172.59 and a two-hundred day moving average price of $184.49. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $229.24. The firm has a market capitalization of $71.96 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. The company had revenue of $2.84 billion for 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%.The business's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. As a group, analysts anticipate that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced 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 1.0%. The ex-dividend date is Friday, May 15th. Cintas's dividend payout ratio is presently 50.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CTAS shares. Bank of America started coverage on Cintas in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective for the company. Weiss Ratings cut Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Stifel Nicolaus reduced their price objective on Cintas from $222.00 to $190.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. UBS Group reissued a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Finally, 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 report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Cintas has a consensus rating of "Hold" and a consensus target price of $215.17.

Insider Activity at Cintas

In other 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 sale, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.90% of the company's stock.

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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