Intech Investment Management LLC Has $3.08 Million Stock Position in Cintas Corporation $CTAS

Intech Investment Management LLC decreased its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 52.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,387 shares of the business services provider’s stock after selling 18,040 shares during the period. Intech Investment Management LLC’s holdings in Cintas were worth $3,082,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Foundations Investment Advisors LLC acquired a new position in shares of Cintas during the 4th quarter worth $277,000. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new position in shares of Cintas during the 4th quarter worth $5,668,000. Swmg LLC acquired a new position in shares of Cintas during the 4th quarter worth $304,000. Huntington National Bank boosted its holdings in shares of Cintas by 3.2% during the 4th quarter. Huntington National Bank now owns 11,411 shares of the business services provider’s stock worth $2,146,000 after buying an additional 354 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after buying an additional 97,220 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Bank of America initiated coverage on shares of Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective for the company. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Stifel Nicolaus decreased their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Finally, Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $215.17.

Cintas Price Performance

Shares of Cintas stock opened at $173.31 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $229.24. The firm has a fifty day moving average price of $172.75 and a two-hundred day moving average price of $184.74. The company has a market cap of $69.34 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is currently 50.85%.

Cintas 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.