BI Asset Management Fondsmaeglerselskab A S Has $8.74 Million Stake in Cintas Corporation $CTAS

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 150.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 51,683 shares of the business services provider’s stock after purchasing an additional 31,084 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cintas were worth $8,742,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nemes Rush Group LLC acquired a new position in Cintas during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in shares of Cintas in the fourth quarter valued at $25,000. Camelot Portfolios LLC bought a new position in shares of Cintas in the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new position in Cintas during the fourth quarter worth $26,000. Finally, Key Capital Management INC acquired a new position in Cintas during the fourth quarter worth $28,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

NASDAQ:CTAS opened at $170.85 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The firm’s 50-day simple moving average is $173.50 and its 200 day simple moving average is $183.87. The firm has a market cap of $68.36 billion, a price-to-earnings ratio of 48.26, a P/E/G ratio of 2.72 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last issued its quarterly 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. The business 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%.The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. As a group, sell-side analysts predict 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 was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas’s payout ratio is presently 50.85%.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Weiss Ratings downgraded shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Stifel Nicolaus reduced their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $215.92.

Cintas 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.