Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 46,050 Shares of Cintas Corporation $CTAS

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Cintas Corporation (NASDAQ:CTAS) by 47.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,026 shares of the business services provider’s stock after purchasing an additional 46,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cintas were worth $24,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CTAS. Norges Bank bought a new position in shares of Cintas during the 4th quarter valued at approximately $923,672,000. Two Sigma Investments LP increased its stake in shares of Cintas by 5,641.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock worth $208,682,000 after purchasing an additional 998,963 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Cintas by 2,653.0% in 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 purchasing an additional 966,597 shares during the period. Voloridge Investment Management LLC raised its holdings in shares of 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 period. Finally, Freestone Grove Partners LP lifted its stake in Cintas by 5,341.8% in the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock valued at $153,352,000 after purchasing an additional 733,380 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $181.37 on Friday. The firm has a 50 day simple moving average of $172.75 and a 200 day simple moving average of $182.99. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.75. The firm has a market capitalization of $72.56 billion, a price-to-earnings ratio of 51.23, a P/E/G ratio of 2.89 and a beta of 0.94.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Wall Street Analyst Weigh In

CTAS has been the subject of several research reports. Weiss Ratings lowered Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. UBS Group restated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Citigroup dropped their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Bank of America cut their price target on Cintas from $215.00 to $200.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Finally, Stifel Nicolaus decreased their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $211.25.

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 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 sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 14.90% of the company’s stock.

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.