National Pension Service Decreases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

National Pension Service reduced its holdings in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,647 shares of the business services provider’s stock after selling 341 shares during the period. National Pension Service owned approximately 0.15% of Cintas worth $61,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new position in Cintas during the 3rd quarter valued at about $27,000. Quent Capital LLC increased its position in Cintas by 169.2% during the 3rd quarter. Quent Capital LLC now owns 70 shares of the business services provider’s stock valued at $27,000 after buying an additional 44 shares in the last quarter. Asset Dedication LLC acquired a new position in Cintas during the 3rd quarter valued at about $29,000. Ronald Blue Trust Inc. acquired a new position in Cintas during the 2nd quarter valued at about $39,000. Finally, Clearstead Advisors LLC acquired a new position in Cintas during the 3rd quarter valued at about $39,000. 61.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Michael Lawrence Thompson sold 14,795 shares of the firm’s stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $444.98, for a total value of $6,583,479.10. Following the transaction, the chief accounting officer now owns 23,318 shares in the company, valued at $10,376,043.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Michael Lawrence Thompson sold 14,795 shares of the company’s stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $444.98, for a total value of $6,583,479.10. Following the completion of the sale, the chief accounting officer now directly owns 23,318 shares in the company, valued at $10,376,043.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO J. Michael Hansen sold 1,618 shares of the stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $441.85, for a total value of $714,913.30. Following the completion of the sale, the chief financial officer now directly owns 30,132 shares of the company’s stock, valued at approximately $13,313,824.20. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Cintas from $490.00 to $507.00 and gave the company a “buy” rating in a report on Thursday, December 22nd. Morgan Stanley increased their price objective on Cintas from $373.00 to $401.00 and gave the company an “equal weight” rating in a report on Thursday, December 22nd. Wells Fargo & Company increased their price objective on Cintas from $393.00 to $450.00 and gave the company an “equal weight” rating in a report on Thursday, December 22nd. Barclays increased their price objective on Cintas from $435.00 to $500.00 in a report on Friday, December 2nd. Finally, The Goldman Sachs Group raised their target price on Cintas from $495.00 to $530.00 in a report on Wednesday, December 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $476.10.

Cintas Stock Down 2.1 %

Cintas stock opened at $432.34 on Thursday. The firm has a market cap of $43.93 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 3.00 and a beta of 1.34. The business’s 50-day moving average price is $439.91 and its 200 day moving average price is $431.06. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. Cintas Co. has a 52 week low of $343.86 and a 52 week high of $470.23.

Cintas (NASDAQ:CTAS – Get Rating) last issued its quarterly earnings results on Wednesday, December 21st. The business services provider reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.09. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cintas had a return on equity of 37.89% and a net margin of 15.35%. Cintas’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.76 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 12.68 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th were given a $1.15 dividend. The ex-dividend date was Tuesday, February 14th. This represents a $4.60 annualized dividend and a dividend yield of 1.06%. Cintas’s dividend payout ratio (DPR) is presently 37.43%.

About Cintas

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Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.