Nordea Investment Management AB Acquires 158,785 Shares of Cintas Corporation $CTAS

by · The Markets Daily

Nordea Investment Management AB grew its stake in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,729,394 shares of the business services provider’s stock after purchasing an additional 158,785 shares during the quarter. Nordea Investment Management AB’s holdings in Cintas were worth $517,466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CTAS. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Cintas by 2.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock worth $20,501,000 after purchasing an additional 2,628 shares during the period. First Trust Advisors LP lifted its holdings in shares of Cintas by 2.5% in the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after buying an additional 10,249 shares during the period. Vanguard Group Inc. grew 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 buying an additional 564,487 shares in the last quarter. HBK Sorce Advisory LLC grew its position in shares of Cintas by 197.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 9,344 shares of the business services provider’s stock worth $1,858,000 after buying an additional 6,202 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in shares of Cintas by 2.3% during the third quarter. Johnson Investment Counsel Inc. now owns 150,809 shares of the business services provider’s stock valued at $30,955,000 after buying an additional 3,397 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 1.4%

Shares of NASDAQ CTAS opened at $179.34 on Friday. Cintas Corporation has a 1-year low of $177.94 and a 1-year high of $229.24. The business has a fifty day moving average price of $194.95 and a 200 day moving average price of $192.54. The stock has a market capitalization of $71.72 billion, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 3.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.49.

Cintas (NASDAQ:CTAS – Get Free Report) last posted its earnings results on Thursday, December 18th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.77 billion. Cintas had a return on equity of 41.07% and a net margin of 17.58%.The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s payout ratio is presently 52.48%.

Analysts Set New Price Targets

CTAS has been the subject of a number of research reports. Weiss Ratings raised shares of Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Morgan Stanley lowered their price target on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.25.

View Our Latest Stock Analysis on CTAS

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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