40,294 Shares in Cintas Corporation $CTAS Purchased by Pinebridge Investments LLC

Pinebridge Investments LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 40,294 shares of the business services provider’s stock, valued at approximately $7,578,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Camelot Portfolios LLC acquired a new stake in Cintas during the fourth quarter worth about $26,000. Key Capital Management INC acquired a new stake in Cintas during the fourth quarter worth about $28,000. Triumph Capital Management acquired a new stake in Cintas during the third quarter worth about $29,000. Ares Financial Consulting LLC acquired a new stake in Cintas during the fourth quarter worth about $32,000. Finally, Aventura Private Wealth LLC acquired a new stake in Cintas during the fourth quarter worth about $34,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Down 0.1%

Shares of NASDAQ:CTAS opened at $179.85 on Friday. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $229.24. The firm has a market capitalization of $71.96 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 2.86 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. The business’s 50 day moving average price is $172.59 and its 200-day moving average price is $184.49.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. On average, equities research analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s payout ratio is currently 50.85%.

Analysts Set New Price Targets

Several analysts have commented on the company. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. Bank of America began coverage on Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. Stifel Nicolaus decreased their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Finally, Citigroup decreased their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $215.17.

Insider Activity

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

Cintas Profile

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.