41,739 Shares in Cintas Corporation $CTAS Purchased by OP Asset Management Ltd

OP Asset Management Ltd purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the first quarter, HoldingsChannel.com reports. The fund purchased 41,739 shares of the business services provider’s stock, valued at approximately $7,060,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 108 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after buying an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas in the second quarter valued at about $625,000. Treasurer of the State of North Carolina grew its position in Cintas by 20.3% in the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after acquiring an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC grew its position in Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after acquiring an additional 31,068 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $169.09 on Friday. The stock’s 50 day moving average is $173.04 and its 200 day moving average is $183.44. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The firm has a market cap of $67.65 billion, a P/E ratio of 47.77, a P/E/G ratio of 2.72 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company posted $1.13 earnings per share. Cintas’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were paid a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas’s payout ratio is currently 50.85%.

Insider Buying and Selling at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTAS. Citigroup reduced their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings cut shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Truist Financial dropped their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $215.92.

About Cintas

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.