Pinebridge Investments LLC Invests $7.58 Million in Cintas Corporation $CTAS

Pinebridge Investments LLC purchased a new position in Cintas Corporation (NASDAQ:CTAS) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 40,294 shares of the business services provider’s stock, valued at approximately $7,578,000.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP lifted its position in Cintas by 2.5% during the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after buying an additional 10,249 shares in the last quarter. Prana Capital Management LP purchased a new position in Cintas during the third quarter worth approximately $14,312,000. Vanguard Group Inc. lifted its position in Cintas by 1.5% during the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after buying an additional 564,487 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Cintas during the fourth quarter worth approximately $15,736,000. Finally, Johnson Investment Counsel Inc. lifted its position in Cintas by 2.3% during the third quarter. Johnson Investment Counsel Inc. now owns 150,809 shares of the business services provider’s stock worth $30,955,000 after buying an additional 3,397 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 14.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on CTAS. Bank of America began coverage on Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective on the stock. UBS Group restated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. Finally, Citigroup decreased their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $215.17.

Cintas Stock Performance

Shares of Cintas stock opened at $179.85 on Friday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $229.24. The business’s fifty day simple moving average is $172.59 and its 200-day simple moving average is $184.49. The firm has a market cap of $71.96 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. 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) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is 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.