Nordea Investment Management AB Buys 158,785 Shares of Cintas Corporation $CTAS

Key Points

• Nordea Investment Management AB increased its stake in Cintas by 6.2%, buying 158,785 shares in Q4 to hold 2,729,394 shares (~0.68%) valued at about $517.47 million.
• Cintas beat Q4 estimates with $1.21 EPS (vs. $1.20 est.) and $2.80 billion revenue (up 9.3% YoY), and analysts anticipate roughly $4.31 in EPS for the current year.
• The company declared a $0.45 quarterly dividend ($1.80 annual, ~1.0% yield) and carries a consensus rating of "Moderate Buy" with an average price target of $220.25.

Nordea Investment Management AB grew its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,729,394 shares of the business services provider's stock after purchasing an additional 158,785 shares during the period. Nordea Investment Management AB owned approximately 0.68% of Cintas worth $517,466,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Triumph Capital Management purchased a new stake in shares of Cintas during the 3rd quarter worth approximately $29,000. Alpine Bank Wealth Management grew its holdings in shares of Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Cintas in the fourth quarter valued at $34,000. WPG Advisers LLC increased its position in Cintas by 90.0% in the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Cintas by 61.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 189 shares of the business services provider's stock valued at $36,000 after purchasing an additional 72 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

CTAS stock opened at $179.34 on Friday. The stock has a market cap of $71.72 billion, a PE ratio of 52.29, a P/E/G ratio of 3.23 and a beta of 0.95. Cintas Corporation has a 12 month low of $177.94 and a 12 month high of $229.24. The company has a 50-day moving average price of $194.95 and a 200 day moving average price of $192.54. The company has a current ratio of 1.71, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, December 18th. The business services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.01. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.77 billion. Cintas had a net margin of 17.58% and a return on equity of 41.07%. During the same period in the prior year, the company posted $1.09 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, February 13th. Cintas's dividend payout ratio is presently 52.48%.

Wall Street Analyst Weigh In

CTAS has been the subject of several research reports. UBS Group reiterated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings upgraded shares of Cintas from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Robert W. Baird raised shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price target for the company in a report on Wednesday, March 11th. Bank of America began coverage on Cintas in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price target for the company. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $206.00 price objective on shares of Cintas in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.25.

Cintas 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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