Nearwater Capital Markets Ltd Acquires Shares of 37,000 Cintas Co. (NASDAQ:CTAS)

Nearwater Capital Markets Ltd purchased a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,000 shares of the business services provider's stock, valued at approximately $6,760,000.

A number of other large investors have also recently made changes to their positions in the company. MJP Associates Inc. ADV increased its stake in Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after buying an additional 50 shares during the period. Guardian Wealth Advisors LLC grew its stake in shares of Cintas by 3.1% during the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock worth $318,000 after purchasing an additional 52 shares during the period. MGB Wealth Management LLC grew its stake in shares of Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after purchasing an additional 52 shares during the period. TIAA Trust National Association grew its stake in shares of Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after purchasing an additional 52 shares during the period. Finally, Wellspring Financial Advisors LLC grew its stake in shares of Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after purchasing an additional 52 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. UBS Group upped their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Citigroup assumed coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday, March 27th. Finally, Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $213.88.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the 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 completion of the sale, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Cintas Trading Up 1.1%

NASDAQ:CTAS traded up $2.36 on Friday, reaching $220.85. The stock had a trading volume of 1,430,885 shares, compared to its average volume of 1,705,578. The company has a market cap of $89.18 billion, a price-to-earnings ratio of 53.25, a P/E/G ratio of 3.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The firm's fifty day moving average is $204.52 and its two-hundred day moving average is $204.73. Cintas Co. has a 12-month low of $164.93 and a 12-month high of $228.12.

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

Cintas Dividend Announcement

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

Cintas Profile

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.