43,600 Shares in Cintas Corporation $CTAS Bought by Louisiana State Employees Retirement System

by · The Cerbat Gem

Louisiana State Employees Retirement System bought a new stake in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 43,600 shares of the business services provider’s stock, valued at approximately $7,375,000.

A number of other hedge funds also recently made changes to their positions in CTAS. Norges Bank bought a new stake in shares of Cintas in the 4th quarter worth approximately $923,672,000. Two Sigma Investments LP grew its holdings in Cintas by 5,641.3% during the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after purchasing an additional 998,963 shares during the period. SG Americas Securities LLC increased its position in Cintas by 2,653.0% in the fourth quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock worth $188,640,000 after buying an additional 966,597 shares during the last quarter. Voloridge Investment Management LLC raised its stake in shares of Cintas by 275.2% in the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after buying an additional 823,885 shares during the period. Finally, Freestone Grove Partners LP raised its stake in shares of 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 buying an additional 733,380 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Cintas Price Performance

NASDAQ:CTAS opened at $169.09 on Friday. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75. The stock has a fifty day moving average of $173.04 and a 200 day moving average of $183.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a market capitalization of $67.65 billion, a price-to-earnings ratio of 47.77, a P/E/G ratio of 2.72 and a beta of 0.94.

Cintas (NASDAQ:CTAS – Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts expect that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Analyst Upgrades and Downgrades

Several research firms have commented on CTAS. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Truist Financial dropped their price target 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. Stifel Nicolaus cut 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. Finally, Weiss Ratings lowered shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. 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 assigned a Sell rating to the stock. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and an average price target of $215.92.

View Our Latest Analysis on Cintas

Cintas Company Profile

(Free Report)

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.

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