Pensionfund Sabic Takes $1.34 Million Position in Cintas Corporation $CTAS

Pensionfund Sabic purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,100 shares of the business services provider’s stock, valued at approximately $1,335,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Triumph Capital Management bought a new stake in shares of Cintas in the 3rd quarter worth $29,000. Alpine Bank Wealth Management raised its holdings in shares of Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. WPG Advisers LLC lifted its position in shares of Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in Cintas during the fourth quarter worth about $34,000. Finally, Salomon & Ludwin LLC boosted its holdings in Cintas by 84.0% during the third quarter. Salomon & Ludwin LLC now owns 184 shares of the business services provider’s stock worth $37,000 after purchasing an additional 84 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup reiterated a “sell” rating and issued a $181.00 price objective (up from $176.00) on shares of Cintas in a research note on Monday, December 22nd. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research note on Wednesday, March 11th. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Bank of America assumed coverage on Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target for the company. Finally, Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.25.

Cintas Stock Performance

NASDAQ CTAS opened at $178.13 on Wednesday. The company has a market capitalization of $71.23 billion, a PE ratio of 51.93, a price-to-earnings-growth ratio of 3.27 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.49 and a current ratio of 1.71. Cintas Corporation has a 52-week low of $177.53 and a 52-week high of $229.24. The company has a 50-day simple moving average of $194.42 and a 200 day simple moving average of $192.08.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 13th. Cintas’s payout ratio is 52.48%.

About Cintas

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.