Vanguard Group Inc. Buys 20,189 Shares of Cintas Corp. (CTAS)
Vanguard Group Inc. increased its stake in shares of Cintas Corp. (NASDAQ:CTAS) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,290,775 shares of the company’s stock after buying an additional 20,189 shares during the period. Vanguard Group Inc. owned about 8.92% of Cintas Corp. worth $911,703,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of CTAS. Norges Bank acquired a new position in Cintas Corp. during the fourth quarter valued at about $94,087,000. Chevy Chase Trust Holdings Inc. raised its stake 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 valued at $6,643,000 after buying an additional 3,081 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake 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 valued at $1,911,000 after buying an additional 2,246 shares during the period. Exxonmobil Investment Management Inc. TX raised its stake 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 valued at $1,915,000 after buying an additional 1,724 shares during the period. Finally, Boston Advisors LLC raised its stake 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 valued at $4,607,000 after buying an additional 978 shares during the period. Hedge funds and other institutional investors own 65.78% of the company’s stock.
Shares of Cintas Corp. (NASDAQ:CTAS) opened at 114.52 on Friday. The stock’s 50 day moving average price is $113.39 and its 200-day moving average price is $98.76. Cintas Corp. has a 12-month low of $80.00 and a 12-month high of $119.94. The firm has a market capitalization of $11.93 billion, a P/E ratio of 18.35 and a beta of 0.85.
Cintas Corp. (NASDAQ:CTAS) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.08. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. Cintas Corp. had a net margin of 14.14% and a return on equity of 24.16%. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, equities analysts expect that Cintas Corp. will post $4.42 EPS for the current year.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Cintas Corp. from a “sell” rating to a “hold” rating and set a $120.00 price target on the stock in a research note on Thursday, July 21st. Barclays PLC decreased their price target on Cintas Corp. from $105.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Nomura reaffirmed a “buy” rating and issued a $102.00 target price on shares of Cintas Corp. in a research note on Friday, July 15th. Robert W. Baird raised Cintas Corp. from a “neutral” rating to an “outperform” rating and upped their target price for the company from $111.00 to $140.00 in a research note on Wednesday, August 17th. Finally, Macquarie began coverage on Cintas Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $130.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Cintas Corp. has a consensus rating of “Hold” and a consensus 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 transaction, the director now owns 11,590 shares in the company, valued at $1,253,110.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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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