Unio Capital LLC Has $38.67 Million Stake in Cintas Corporation $CTAS

Key Points

• Unio Capital LLC increased its Cintas stake by 83.6% in the fourth quarter, buying 93,650 more shares and bringing its total holdings to 205,616 shares valued at about $38.67 million.
• Other major institutional investors also held large positions in Cintas, and 63.46% of the stock is owned by institutions; meanwhile, insider activity included Director Ronald W. Tysoe selling 4,666 shares in April.
• Cintas recently reported Q3 earnings of $1.24 per share, matching estimates, with revenue of $2.84 billion beating expectations; the company also paid a quarterly dividend of $0.45 per share, equal to a 1.0% annual yield.

Unio Capital LLC boosted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 83.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 205,616 shares of the business services provider's stock after purchasing an additional 93,650 shares during the quarter. Cintas makes up approximately 7.3% of Unio Capital LLC's investment portfolio, making the stock its 7th largest holding. Unio Capital LLC owned about 0.05% of Cintas worth $38,670,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Cintas by 1.5% in the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider's stock valued at $7,994,594,000 after buying an additional 564,487 shares during the last quarter. State Street Corp grew its stake in shares of Cintas by 1.4% during the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider's stock worth $2,879,632,000 after acquiring an additional 210,477 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider's stock valued at $1,746,453,000 after acquiring an additional 97,220 shares in the last quarter. Norges Bank acquired a new position in shares of Cintas during the fourth quarter valued at about $923,672,000. Finally, Morgan Stanley raised its position in shares of Cintas by 0.8% in the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider's stock valued at $826,214,000 after purchasing an additional 36,666 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTAS. UBS Group reiterated a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. Truist Financial lowered their target price on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Monday. Robert W. Baird upgraded shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 target price for the company in a research note on Wednesday, March 11th. Citigroup lowered their target price on shares of Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research note on Tuesday, March 31st. Finally, Bank of America began coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $215.92.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.90% of the stock is currently owned by corporate insiders.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $176.71 on Wednesday. The business's 50 day moving average price is $173.60 and its 200 day moving average price is $184.19. The firm has a market cap of $70.70 billion, a P/E ratio of 49.92, a P/E/G ratio of 2.78 and a beta of 0.94. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

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

Cintas Dividend Announcement

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

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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