Nisa Investment Advisors LLC Sells 15,173 Shares of Cintas Corporation (NASDAQ:CTAS)

Nisa Investment Advisors LLC trimmed its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 159,802 shares of the business services provider's stock after selling 15,173 shares during the period. Nisa Investment Advisors LLC's holdings in Cintas were worth $32,844,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after purchasing an additional 468,950 shares during the last quarter. Alpine Global Management LLC bought a new position in Cintas during the 4th quarter worth $284,000. Treasurer of the State of North Carolina raised its position in Cintas by 12.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock worth $31,092,000 after purchasing an additional 18,620 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Cintas by 97.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider's stock worth $1,365,000 after purchasing an additional 3,690 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Cintas by 5.7% during the 4th quarter. Bank of Montreal Can now owns 575,491 shares of the business services provider's stock worth $105,142,000 after purchasing an additional 30,811 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 0.0%

Shares of NASDAQ:CTAS traded down $0.08 on Thursday, reaching $216.56. 1,002,195 shares of the company traded hands, compared to its average volume of 1,669,764. The business's 50-day simple moving average is $220.56 and its 200 day simple moving average is $206.71. Cintas Corporation has a 52 week low of $178.42 and a 52 week high of $229.24. The stock has a market capitalization of $87.44 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 3.38 and a beta of 1.05. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44.

Analyst Ratings Changes

CTAS has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. The Goldman Sachs Group lifted their price target on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a report on Thursday, May 1st. Finally, Bank of America initiated coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $219.58.

Insider Activity

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director directly owned 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.00% of the stock is owned by insiders.

About Cintas

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.