Nomura Holdings Inc. Trims Position in Cintas Corporation (CTAS)
Nomura Holdings Inc. lessened its position in shares of Cintas Corporation (NASDAQ:CTAS) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,977 shares of the business services provider’s stock after selling 1,547 shares during the quarter. Nomura Holdings Inc.’s holdings in Cintas Corporation were worth $3,019,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its position in Cintas Corporation by 14.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,585 shares of the business services provider’s stock valued at $956,000 after acquiring an additional 948 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Cintas Corporation by 3.8% during the second quarter. Coldstream Capital Management Inc. now owns 5,286 shares of the business services provider’s stock valued at $666,000 after acquiring an additional 193 shares during the last quarter. Friedberg Investment Management increased its position in Cintas Corporation by 3.8% during the second quarter. Friedberg Investment Management now owns 42,210 shares of the business services provider’s stock valued at $5,320,000 after acquiring an additional 1,550 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Cintas Corporation during the second quarter valued at $353,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Cintas Corporation during the second quarter valued at $511,000. Institutional investors own 64.77% of the company’s stock.
A number of research firms recently commented on CTAS. Deutsche Bank AG reiterated a “hold” rating and set a $140.00 price objective (up previously from $130.00) on shares of Cintas Corporation in a research report on Wednesday, September 27th. Zacks Investment Research upgraded Cintas Corporation from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, August 24th. Robert W. Baird set a $152.00 price objective on Cintas Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Instinet cut Cintas Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $142.00 to $130.00 in a research report on Tuesday, June 27th. Finally, Stifel Nicolaus upped their price objective on Cintas Corporation from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $143.00.
Cintas Corporation (CTAS) traded up 0.15% during trading on Friday, hitting $151.73. The stock had a trading volume of 42,575 shares. Cintas Corporation has a 52-week low of $102.07 and a 52-week high of $151.98. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 29.75 and a beta of 0.86. The firm’s 50-day moving average price is $139.06 and its 200-day moving average price is $130.02.
Cintas Corporation (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.18. Cintas Corporation had a return on equity of 23.71% and a net margin of 9.79%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business earned $1.26 EPS. Cintas Corporation’s revenue for the quarter was up 27.2% compared to the same quarter last year. Analysts predict that Cintas Corporation will post $5.36 EPS for the current fiscal year.
In other Cintas Corporation news, CFO J. Michael Hansen sold 800 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $130.75, for a total transaction of $104,600.00. Following the completion of the sale, the chief financial officer now directly 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 through this link. Also, Director Gerald S. Adolph sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $133.69, for a total value of $267,380.00. Following the sale, the director now owns 13,135 shares of the company’s stock, valued at $1,756,018.15. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by insiders.
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About Cintas Corporation
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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