Bridges Investment Management Inc. Trims Stake in Cintas Corporation $CTAS

Bridges Investment Management Inc. trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 266,038 shares of the business services provider’s stock after selling 4,776 shares during the period. Bridges Investment Management Inc. owned approximately 0.07% of Cintas worth $50,034,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTAS. Brighton Jones LLC lifted its holdings in shares of Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 108 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Cintas by 42.3% during the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Cintas during the second quarter valued at approximately $625,000. Treasurer of the State of North Carolina increased its position in shares of Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after acquiring an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after acquiring an additional 31,068 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $173.31 on Wednesday. The firm has a 50 day moving average of $172.75 and a 200 day moving average of $184.74. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $69.34 billion, a price-to-earnings ratio of 48.96, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $229.24.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $2.82 billion. During the same period in the previous year, the business posted $1.13 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

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

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 14.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTAS. Bank of America began coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective for the company. 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. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. 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 report on Wednesday, March 11th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $215.17.

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.