Inspire Investing LLC Buys 4,952 Shares of Cintas Corporation $CTAS

Inspire Investing LLC grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 12.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 46,208 shares of the business services provider’s stock after buying an additional 4,952 shares during the period. Cintas makes up 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 20th biggest holding. Inspire Investing LLC’s holdings in Cintas were worth $7,816,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CTAS. State Street Corp increased its stake in Cintas by 1.4% during the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock valued at $2,879,632,000 after acquiring an additional 210,477 shares during the period. Geode Capital Management LLC lifted its position in shares of Cintas by 1.1% in 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 acquiring an additional 97,220 shares during the period. Norges Bank acquired a new stake in shares of Cintas during the 4th quarter worth approximately $923,672,000. Morgan Stanley grew its holdings in shares of Cintas by 0.8% during the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Cintas by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after purchasing an additional 158,785 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent research reports. Stifel Nicolaus cut their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Weiss Ratings lowered shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. Citigroup reduced 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. Finally, UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $214.77.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the business’s 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 sale, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.90% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $169.08 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The company has a market capitalization of $67.65 billion, a PE ratio of 47.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.94. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The business has a 50 day simple moving average of $172.78 and a 200 day simple moving average of $183.26.

Cintas Dividend Announcement

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