Wedge Capital Management L L P NC Takes Position in Cintas Corp. (CTAS)
Wedge Capital Management L L P NC acquired a new stake in Cintas Corp. (NASDAQ:CTAS) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 7,407 shares of the company’s stock, valued at approximately $727,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTAS. Quadrant Capital Group LLC boosted its position in Cintas Corp. by 0.8% in the second quarter. Quadrant Capital Group LLC now owns 1,129 shares of the company’s stock valued at $106,000 after buying an additional 9 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Cintas Corp. by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,376 shares of the company’s stock valued at $135,000 after buying an additional 11 shares during the last quarter. Scott & Selber Inc. acquired a new position in Cintas Corp. during the second quarter valued at about $211,000. S&CO Inc. acquired a new position in Cintas Corp. during the second quarter valued at about $226,000. Finally, National Planning Corp boosted its position in Cintas Corp. by 5.8% in the first quarter. National Planning Corp now owns 2,975 shares of the company’s stock valued at $271,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 66.96% of the company’s stock.
Shares of Cintas Corp. (NASDAQ:CTAS) traded down 0.30% during mid-day trading on Wednesday, reaching $108.08. The company’s stock had a trading volume of 549,106 shares. The firm’s 50 day moving average is $113.45 and its 200-day moving average is $101.63. Cintas Corp. has a 52-week low of $80.00 and a 52-week high of $119.94. The company has a market capitalization of $11.34 billion, a PE ratio of 16.25 and a beta of 0.76.
Cintas Corp. (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 27th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.18. Cintas Corp. had a return on equity of 24.60% and a net margin of 14.63%. The business earned $1.29 billion during the quarter. During the same period in the previous year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts forecast that Cintas Corp. will post $4.60 EPS for the current year.
Several research analysts have issued reports on CTAS shares. Nomura reiterated a “buy” rating and issued a $135.00 price objective (up previously from $124.00) on shares of Cintas Corp. in a research report on Thursday, August 25th. Zacks Investment Research upgraded Cintas Corp. from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, October 5th. Barclays PLC dropped their price target on Cintas Corp. from $105.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Cintas Corp. in a research report on Wednesday, September 28th. Finally, Piper Jaffray Cos. restated a “neutral” rating and issued a $106.00 price target (up previously from $95.00) on shares of Cintas Corp. in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $117.10.
In other news, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 11,590 shares of the company’s stock, valued at approximately $1,253,110.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. 19.10% of the stock is owned by 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.
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corp. (NASDAQ:CTAS).
Receive News & Ratings for Cintas Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas Corp. and related companies with MarketBeat.com's FREE daily email newsletter.