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Nisa Investment Advisors LLC Has $32.84 Million Stake in Cintas Corporation (NASDAQ:CTAS)

Cintas logo with Business Services background

Nisa Investment Advisors LLC decreased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,802 shares of the business services provider's stock after selling 15,173 shares during the quarter. Nisa Investment Advisors LLC's holdings in Cintas were worth $32,844,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after purchasing an additional 219,809 shares during the period. Invesco Ltd. boosted its position in Cintas by 6.1% during the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank acquired a new position in Cintas during the 4th quarter valued at approximately $877,216,000. Northern Trust Corp boosted its position in Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after purchasing an additional 472,069 shares during the period. Finally, Royal Bank of Canada boosted its position in Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CTAS. Truist Financial boosted their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $219.58.

Get Our Latest Stock Analysis on Cintas

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director directly owned 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 15.00% of the company's stock.

Cintas Price Performance

Cintas stock traded down $1.12 during mid-day trading on Friday, hitting $215.44. The company's stock had a trading volume of 1,035,324 shares, compared to its average volume of 1,670,659. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $86.99 billion, a P/E ratio of 49.90, a P/E/G ratio of 3.36 and a beta of 1.05. Cintas Corporation has a twelve month low of $178.42 and a twelve month high of $229.24. The stock's fifty day moving average price is $220.63 and its two-hundred day moving average price is $207.03.

Cintas Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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