Louisiana State Employees Retirement System Acquires Shares of 43,600 Cintas Corporation $CTAS

Louisiana State Employees Retirement System acquired a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the first quarter, HoldingsChannel.com reports. The fund acquired 43,600 shares of the business services provider’s stock, valued at approximately $7,375,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nemes Rush Group LLC bought a new stake in Cintas during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in Cintas in the 4th quarter worth $25,000. Camelot Portfolios LLC purchased a new position in shares of Cintas in the fourth quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Cintas during the fourth quarter valued at about $26,000. Finally, Key Capital Management INC bought a new position in shares of Cintas during the fourth quarter valued at about $28,000. Institutional investors own 63.46% of the company’s stock.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction on 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 owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 14.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup cut their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Stifel Nicolaus dropped their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Robert W. Baird raised 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. Finally, Truist Financial decreased their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $215.92.

Cintas Stock Performance

Shares of CTAS opened at $169.09 on Friday. 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 one year low of $161.16 and a one year high of $226.75. The company has a 50-day simple moving average of $173.04 and a two-hundred day simple moving average of $183.44. The firm has a market capitalization of $67.65 billion, a PE ratio of 47.77, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the business earned $1.13 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts anticipate that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Cintas’s dividend payout ratio is 50.85%.

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.