Fideuram Asset Management Ireland dac Purchases Shares of 38,375 Cintas Corporation $CTAS

Fideuram Asset Management Ireland dac purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 38,375 shares of the business services provider’s stock, valued at approximately $7,938,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. National Pension Service grew its holdings in Cintas by 8.9% during the fourth quarter. National Pension Service now owns 907,155 shares of the business services provider’s stock valued at $170,609,000 after purchasing an additional 73,906 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in Cintas during the fourth quarter valued at approximately $212,000. Basepoint Wealth LLC acquired a new position in Cintas during the fourth quarter valued at approximately $34,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Cintas during the fourth quarter valued at approximately $169,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Cintas by 4.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 32,234 shares of the business services provider’s stock valued at $6,062,000 after purchasing an additional 1,365 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTAS. Stifel Nicolaus reduced their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Robert W. Baird raised 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. Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Bank of America began coverage on Cintas in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective for the company. Finally, UBS Group reissued 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, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $215.17.

Insider Activity

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of Cintas 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.90% of the company’s stock.

Cintas Stock Up 1.9%

Shares of CTAS stock opened at $173.06 on Friday. The stock has a market cap of $69.24 billion, a P/E ratio of 48.89, a price-to-earnings-growth ratio of 2.99 and a beta of 0.96. Cintas Corporation has a one year low of $161.16 and a one year high of $229.24. The stock has a fifty day moving average price of $173.21 and a 200 day moving average price of $184.93. 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 (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $1.13 earnings per share. Analysts predict that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend 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 (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.