Novem Group Purchases Shares of 4,896 Cintas Co. (NASDAQ:CTAS)

Novem Group purchased a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,896 shares of the business services provider's stock, valued at approximately $894,000.

A number of other large investors also recently modified their holdings of CTAS. Sound Income Strategies LLC acquired a new stake in Cintas during the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC purchased a new stake in Cintas during the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the fourth quarter worth $31,000. IAG Wealth Partners LLC raised its stake in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after acquiring an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Cintas during the 4th quarter valued at $34,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the topic of several research reports. Truist Financial raised 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. The Goldman Sachs Group increased their target price on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Argus upgraded Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Finally, Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cintas currently has an average rating of "Hold" and an average price target of $213.88.

Insider Buying and Selling at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. This represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Cintas Stock Performance

Shares of Cintas stock opened at $221.05 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 1 year low of $164.93 and a 1 year high of $228.12. The firm's 50-day simple moving average is $206.34 and its 200-day simple moving average is $205.06. The firm has a market cap of $89.26 billion, a PE ratio of 53.30, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the business posted $3.84 EPS. Cintas's quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio is presently 36.11%.

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.

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