North Dakota State Investment Board Makes New $2.22 Million Investment in Cintas Corporation $CTAS

Key Points

• North Dakota State Investment Board opened a new position in Cintas during the fourth quarter, buying 11,792 shares worth about $2.22 million.
• Cintas reported quarterly earnings of $1.24 per share, matching estimates, while revenue of $2.84 billion topped expectations and rose 8.9% year over year.
• The company declared a quarterly dividend of $0.45 per share, and Wall Street sentiment remains cautious overall with a Hold consensus rating and an average price target of $215.17.

North Dakota State Investment Board acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,792 shares of the business services provider's stock, valued at approximately $2,218,000.

Several other large investors have also recently bought and sold shares of the company. Elyxium Wealth LLC lifted its holdings in Cintas by 4.9% during the 4th quarter. Elyxium Wealth LLC now owns 1,368 shares of the business services provider's stock worth $257,000 after buying an additional 64 shares in the last quarter. Barr E S & Co. lifted its holdings in Cintas by 3.1% during the 4th quarter. Barr E S & Co. now owns 3,919 shares of the business services provider's stock worth $737,000 after buying an additional 119 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its holdings in Cintas by 29.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 7,998 shares of the business services provider's stock worth $1,504,000 after buying an additional 1,820 shares in the last quarter. AlphaCore Capital LLC lifted its holdings in Cintas by 24.2% during the 4th quarter. AlphaCore Capital LLC now owns 1,554 shares of the business services provider's stock worth $292,000 after buying an additional 303 shares in the last quarter. Finally, DNB Asset Management AS lifted its holdings in Cintas by 16.0% during the 4th quarter. DNB Asset Management AS now owns 117,145 shares of the business services provider's stock worth $22,031,000 after buying an additional 16,117 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Performance

CTAS stock opened at $174.51 on Tuesday. The business's fifty day moving average is $177.14 and its 200-day moving average is $185.62. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $69.82 billion, a P/E ratio of 49.30, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts' consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The firm's quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas's dividend payout ratio is currently 50.85%.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 14.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTAS. Citigroup cut their price target on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research note on Tuesday, March 31st. UBS Group reissued a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. Argus raised Cintas to a "strong-buy" rating in a research note on Wednesday, January 21st. Bank of America began coverage on Cintas in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price target on the stock. Finally, Stifel Nicolaus cut their price target on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and an average target price of $215.17.

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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