Rainier Investment Management LLC decreased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,790 shares of the business services provider’s stock after selling 930 shares during the period. Rainier Investment Management LLC’s holdings in Cintas Corporation were worth $2,998,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Rehmann Capital Advisory Group raised its position in shares of Cintas Corporation by 0.6% in the second quarter. Rehmann Capital Advisory Group now owns 1,674 shares of the business services provider’s stock valued at $211,000 after buying an additional 10 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Cintas Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,043 shares of the business services provider’s stock valued at $510,000 after buying an additional 11 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Cintas Corporation by 0.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,861 shares of the business services provider’s stock valued at $235,000 after buying an additional 13 shares in the last quarter. Lincoln National Corp raised its position in shares of Cintas Corporation by 0.8% in the first quarter. Lincoln National Corp now owns 1,845 shares of the business services provider’s stock valued at $234,000 after buying an additional 14 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its position in shares of Cintas Corporation by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 6,146 shares of the business services provider’s stock valued at $775,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 67.55% of the company’s stock.

Shares of Cintas Corporation (NASDAQ:CTAS) opened at 131.19 on Friday. Cintas Corporation has a one year low of $102.07 and a one year high of $139.74. The firm has a 50-day moving average price of $130.83 and a 200 day moving average price of $124.50. The firm has a market cap of $13.83 billion, a P/E ratio of 29.90 and a beta of 0.84.

Cintas Corporation (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.30. Cintas Corporation had a return on equity of 23.38% and a net margin of 8.90%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company earned $1.08 EPS. Cintas Corporation’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, analysts forecast that Cintas Corporation will post $5.23 earnings per share for the current fiscal year.

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Several brokerages have recently commented on CTAS. Zacks Investment Research lowered Cintas Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. BidaskClub lowered Cintas Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Morgan Stanley reiterated an “underweight” rating and issued a $117.00 target price (up previously from $107.00) on shares of Cintas Corporation in a research note on Tuesday, July 25th. Nomura lowered Cintas Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 28th. Finally, Stifel Nicolaus lifted their target price on Cintas Corporation from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Cintas Corporation presently has an average rating of “Hold” and a consensus target price of $133.42.

In other news, CFO J. Michael Hansen sold 800 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $130.75, for a total value of $104,600.00. Following the transaction, the chief financial officer now owns 54,370 shares in the company, valued at approximately $7,108,877.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the completion of the transaction, the director now owns 13,135 shares in the company, valued at approximately $1,756,018.15. The disclosure for this sale can be found here. 19.10% of the stock is owned by corporate insiders.

Cintas Corporation 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.

Institutional Ownership by Quarter for Cintas Corporation (NASDAQ:CTAS)

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