Erste Asset Management GmbH Raises Holdings in Cintas Corporation $CTAS

Erste Asset Management GmbH boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 101.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 469,981 shares of the business services provider’s stock after purchasing an additional 236,329 shares during the quarter. Cintas makes up 0.7% of Erste Asset Management GmbH’s investment portfolio, making the stock its 28th biggest holding. Erste Asset Management GmbH owned approximately 0.12% of Cintas worth $89,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Cintas by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after acquiring an additional 10,249 shares in the last quarter. Prana Capital Management LP acquired a new position in shares of Cintas during the 3rd quarter worth about $14,312,000. Vanguard Group Inc. boosted its position in shares of Cintas by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after acquiring an additional 564,487 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Cintas during the 4th quarter worth about $15,736,000. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Cintas by 2.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 150,809 shares of the business services provider’s stock worth $30,955,000 after acquiring an additional 3,397 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.90% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $179.85 on Monday. The stock’s 50 day moving average price is $172.59 and its 200 day moving average price is $184.49. The company has a market capitalization of $71.96 billion, a PE ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $229.24.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) 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 last year, the business posted $1.13 EPS. 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 EPS for the current year.

Cintas Dividend Announcement

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 given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CTAS. Bank of America began coverage on Cintas in a research report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective for the company. Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. UBS Group reaffirmed 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 price objective for the company in a research report on Wednesday, March 11th. Finally, Stifel Nicolaus decreased their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and a consensus target price of $215.17.

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.