Mariner Investment Group LLC Makes New $50.59 Million Investment in Cintas Corporation $CTAS

Key Points

• Mariner Investment Group opened a new position in Cintas, buying 269,000 shares worth about $50.6 million. The stake represented roughly 3.0% of its portfolio and 0.07% of Cintas shares outstanding.
• Cintas reported quarterly earnings of $1.24 per share, matching expectations, while revenue of $2.84 billion slightly beat estimates and rose 8.9% year over year.
• The company recently paid a $0.45 quarterly dividend and now offers a 1.1% annual yield. Meanwhile, analysts are mixed overall, with MarketBeat showing an average rating of Hold and an average target price of $215.92.

Mariner Investment Group LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 269,000 shares of the business services provider's stock, valued at approximately $50,591,000. Cintas comprises about 3.0% of Mariner Investment Group LLC's investment portfolio, making the stock its 15th largest holding. Mariner Investment Group LLC owned 0.07% of Cintas as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CTAS. One Capital Management LLC boosted its stake in Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider's stock worth $1,159,000 after buying an additional 53 shares during the last quarter. Richardson Financial Services Inc. increased its stake in shares of Cintas by 1.1% in the 4th 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 during the last quarter. Woodward Diversified Capital LLC raised its holdings in shares of Cintas by 4.8% during the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider's stock worth $242,000 after acquiring an additional 59 shares during the period. Mather Group LLC. raised its holdings in shares of Cintas by 1.4% during the 4th 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 during the period. Finally, Ausdal Financial Partners Inc. boosted its position in shares of Cintas by 2.8% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider's stock valued at $510,000 after acquiring an additional 63 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Up 0.7%

Shares of NASDAQ:CTAS opened at $170.85 on Friday. The firm has a market capitalization of $68.36 billion, a PE ratio of 48.26, a price-to-earnings-growth ratio of 2.70 and a beta of 0.94. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. 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 firm's 50-day moving average is $173.57 and its two-hundred day moving average is $183.97.

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 the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts predict that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas's payout ratio is 50.85%.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company's 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 of the company's stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CTAS. Stifel Nicolaus reduced their target price on shares of Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Monday. UBS Group restated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings lowered Cintas from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday. Finally, Robert W. Baird upgraded shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of "Hold" and an average target price of $215.92.

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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