Arwa LLC Purchases Shares of 6,778 Cintas Corporation $CTAS

Arwa LLC acquired a new position in Cintas Corporation (NASDAQ:CTAS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 6,778 shares of the business services provider’s stock, valued at approximately $1,275,000.

A number of other large investors have also modified their holdings of CTAS. Norges Bank bought a new position in shares of Cintas during the 4th quarter worth about $923,672,000. Two Sigma Investments LP grew its stake in Cintas by 5,641.3% during the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after buying an additional 998,963 shares during the last quarter. SG Americas Securities LLC lifted its position in Cintas by 2,653.0% during the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock worth $188,640,000 after buying an additional 966,597 shares in the last quarter. Voloridge Investment Management LLC raised its position in Cintas by 275.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after purchasing an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP raised its holdings in Cintas by 5,341.8% during the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after purchasing an additional 733,380 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.90% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of a number of 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. Stifel Nicolaus decreased their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. 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 research report on Wednesday, March 11th. Truist Financial decreased their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Finally, UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $215.92.

Cintas Stock Performance

Shares of CTAS stock opened at $170.85 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $173.50 and a 200-day moving average of $183.88. The company has a market cap of $68.36 billion, a price-to-earnings ratio of 48.26, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting 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 earned $1.13 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

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