Cintas Corporation (CTAS) Shares Bought by Sterling Capital Management LLC
Sterling Capital Management LLC boosted its stake in Cintas Corporation (NASDAQ:CTAS) by 15.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,612 shares of the business services provider’s stock after acquiring an additional 3,333 shares during the quarter. Sterling Capital Management LLC’s holdings in Cintas Corporation were worth $3,102,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in Cintas Corporation by 13.4% in the 1st quarter. Ameriprise Financial Inc. now owns 39,124 shares of the business services provider’s stock valued at $4,950,000 after purchasing an additional 4,624 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cintas Corporation by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 141,359 shares of the business services provider’s stock worth $17,887,000 after acquiring an additional 379 shares during the period. FMR LLC raised its holdings in shares of Cintas Corporation by 23.1% during the 1st quarter. FMR LLC now owns 1,417,504 shares of the business services provider’s stock worth $179,371,000 after acquiring an additional 265,971 shares during the period. Teachers Advisors LLC raised its holdings in shares of Cintas Corporation by 3.3% during the 1st quarter. Teachers Advisors LLC now owns 102,048 shares of the business services provider’s stock worth $12,913,000 after acquiring an additional 3,258 shares during the period. Finally, Cleararc Capital Inc. raised its holdings in shares of Cintas Corporation by 8.7% during the 1st quarter. Cleararc Capital Inc. now owns 2,266 shares of the business services provider’s stock worth $287,000 after acquiring an additional 182 shares during the period. 65.79% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $133.69, for a total value of $267,380.00. Following the completion of the sale, the director now owns 13,135 shares in the company, valued at $1,756,018.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO J. Michael Hansen sold 800 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $130.75, for a total value of $104,600.00. Following the completion of the sale, the chief financial officer now owns 54,370 shares of the company’s stock, valued at approximately $7,108,877.50. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.
CTAS has been the topic of several analyst reports. Zacks Investment Research lowered Cintas Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Cintas Corporation in a report on Wednesday, September 27th. Stifel Nicolaus reiterated a “hold” rating and set a $138.00 price target (up previously from $136.00) on shares of Cintas Corporation in a report on Wednesday, September 27th. BidaskClub upgraded Cintas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $130.00 price target on shares of Cintas Corporation in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $143.00.
ILLEGAL ACTIVITY WARNING: This news story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/16/cintas-corporation-ctas-shares-bought-by-sterling-capital-management-llc.html.
Cintas Corporation (NASDAQ CTAS) traded down 0.17% during trading on Monday, reaching $151.68. The company’s stock had a trading volume of 43,032 shares. The company has a market capitalization of $16.12 billion, a P/E ratio of 29.74 and a beta of 0.86. The company’s 50-day moving average is $139.77 and its 200-day moving average is $130.26. Cintas Corporation has a 1-year low of $102.07 and a 1-year high of $152.50.
Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings data on Tuesday, September 26th. The business services provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.18. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. Cintas Corporation had a return on equity of 23.71% and a net margin of 9.79%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. Equities analysts anticipate that Cintas Corporation will post $5.36 EPS for the current year.
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.
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS).
Receive News & Stock Ratings for Cintas Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas Corporation and related stocks with our FREE daily email newsletter.