Cintas Corporation (NASDAQ:CTAS) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 209,900 shares of the business services provider's stock after acquiring an additional 3,300 shares during the period. KLP Kapitalforvaltning AS owned about 0.05% of Cintas worth $43,141,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in Cintas by 239.3% in 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 last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after acquiring an additional 181 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in Cintas in the first quarter valued at about $46,000. Olde Wealth Management LLC acquired a new stake in Cintas in the first quarter valued at about $55,000. Finally, Physician Wealth Advisors Inc. acquired a new stake in Cintas in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley lifted their price target on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Argus upgraded Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $224.54.

Cintas Stock Up 0.8%

CTAS stock traded up $1.68 during trading on Thursday, reaching $222.88. The stock had a trading volume of 1,453,101 shares, compared to its average volume of 1,728,093. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $90.00 billion, a P/E ratio of 50.54, a PEG ratio of 3.45 and a beta of 1.05. The firm has a fifty day moving average price of $221.30 and a 200 day moving average price of $208.81.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the business posted $3.99 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Martin Mucci bought 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The shares were acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director owned 2,621 shares in the company, valued at $583,303.55. This trade represents a 84.45% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.00% of the stock is owned by corporate insiders.

Cintas Company 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.