Louisiana State Employees Retirement System Has $559,000 Stake in Cintas Corp. (CTAS)
Louisiana State Employees Retirement System decreased its position in Cintas Corp. (NASDAQ:CTAS) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 5,700 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Cintas Corp. were worth $559,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP purchased a new position in Cintas Corp. during the first quarter valued at about $35,390,000. AXA raised its position in Cintas Corp. by 214.6% in the first quarter. AXA now owns 402,920 shares of the company’s stock valued at $36,186,000 after buying an additional 274,850 shares during the last quarter. First Republic Investment Management Inc. raised its position in Cintas Corp. by 158.5% in the first quarter. First Republic Investment Management Inc. now owns 326,334 shares of the company’s stock valued at $29,307,000 after buying an additional 200,096 shares during the last quarter. Bank of Montreal Can purchased a new position in Cintas Corp. during the second quarter valued at about $10,463,000. Finally, State Street Corp raised its position in Cintas Corp. by 2.2% in the first quarter. State Street Corp now owns 4,610,270 shares of the company’s stock valued at $414,060,000 after buying an additional 99,221 shares during the last quarter. Institutional investors own 66.96% of the company’s stock.
Cintas Corp. (NASDAQ:CTAS) traded down 0.92% during midday trading on Monday, hitting $108.25. 455,659 shares of the stock traded hands. The stock’s 50-day moving average price is $113.59 and its 200-day moving average price is $101.58. Cintas Corp. has a 52 week low of $80.00 and a 52 week high of $119.94. The stock has a market capitalization of $11.36 billion, a P/E ratio of 16.27 and a beta of 0.76.
Cintas Corp. (NASDAQ:CTAS) last issued its quarterly earnings results on Tuesday, September 27th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.18. The company had revenue of $1.29 billion for the quarter. Cintas Corp. had a return on equity of 24.60% and a net margin of 14.63%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. Equities research analysts expect that Cintas Corp. will post $4.60 EPS for the current fiscal year.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Cintas Corp. from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Wednesday, October 5th. KeyCorp lifted their price target on shares of Cintas Corp. from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, October 3rd. Barclays PLC reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Cintas Corp. in a research note on Friday, September 30th. Robert W. Baird reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Cintas Corp. in a research note on Friday, September 30th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Cintas Corp. in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $117.10.
In related news, Director Gerald S. Adolph sold 2,000 shares of Cintas Corp. stock in a transaction on Monday, July 25th. The stock was sold at an average price of $108.12, for a total value of $216,240.00. Following the transaction, the director now directly owns 11,590 shares in the company, valued at approximately $1,253,110.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.10% of the stock is owned by corporate insiders.
Cintas Corp. Company Profile
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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