British Airways Pensions Investment Management Ltd Lowers Position in Cintas Corp. (CTAS)
British Airways Pensions Investment Management Ltd cut its position in shares of Cintas Corp. (NASDAQ:CTAS) by 31.5% during the second quarter, Holdings Channel reports. The institutional investor owned 181,970 shares of the company’s stock after selling 83,600 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Cintas Corp. were worth $17,928,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Cintas Corp. during the fourth quarter worth approximately $94,087,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Cintas Corp. by 4.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 73,958 shares of the company’s stock worth $6,643,000 after buying an additional 3,081 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Cintas Corp. by 11.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,274 shares of the company’s stock worth $1,911,000 after buying an additional 2,246 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its position in shares of Cintas Corp. by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 21,325 shares of the company’s stock worth $1,915,000 after buying an additional 1,724 shares in the last quarter. Finally, Boston Advisors LLC increased its position in shares of Cintas Corp. by 1.9% in the first quarter. Boston Advisors LLC now owns 51,301 shares of the company’s stock worth $4,607,000 after buying an additional 978 shares in the last quarter. 65.78% of the stock is currently owned by institutional investors and hedge funds.
Cintas Corp. (NASDAQ:CTAS) traded up 0.34% on Thursday, hitting $115.10. 392,527 shares of the stock traded hands. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 18.44 and a beta of 0.85. Cintas Corp. has a 12-month low of $80.00 and a 12-month high of $119.94. The stock has a 50-day moving average of $113.39 and a 200-day moving average of $98.76.
Cintas Corp. (NASDAQ:CTAS) last posted its earnings results on Tuesday, July 19th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. The firm earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Cintas Corp. had a net margin of 14.14% and a return on equity of 24.16%. During the same period in the previous year, the company earned $0.86 earnings per share. Analysts forecast that Cintas Corp. will post $4.42 earnings per share for the current year.
A number of equities analysts have recently commented on CTAS shares. Zacks Investment Research downgraded shares of Cintas Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. Nomura reissued a “buy” rating and issued a $102.00 target price on shares of Cintas Corp. in a research note on Friday, July 15th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $106.00 target price (up previously from $95.00) on shares of Cintas Corp. in a research note on Wednesday, July 20th. Barclays PLC lowered their price target on shares of Cintas Corp. from $105.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (up from $75.00) on shares of Cintas Corp. in a report on Wednesday, August 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $112.36.
In other Cintas Corp. news, Director Gerald S. Adolph sold 2,000 shares of Cintas Corp. stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $108.12, for a total value of $216,240.00. Following the completion of the sale, the director now directly owns 11,590 shares in the company, valued at $1,253,110.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.10% of the stock is currently owned by company insiders.
About Cintas Corp.
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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