Cintas Corporation $CTAS Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in Cintas Corporation (NASDAQ:CTAS) by 52.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,387 shares of the business services provider’s stock after selling 18,040 shares during the quarter. Intech Investment Management LLC’s holdings in Cintas were worth $3,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Camelot Portfolios LLC bought a new stake in shares of Cintas in the 4th quarter worth approximately $26,000. Key Capital Management INC bought a new stake in shares of Cintas in the 4th quarter worth approximately $28,000. Triumph Capital Management bought a new stake in shares of Cintas in the 3rd quarter worth approximately $29,000. Ares Financial Consulting LLC bought a new stake in shares of Cintas in the 4th quarter worth approximately $32,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of Cintas in the 4th quarter worth approximately $34,000. 63.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 14.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research reports. Weiss Ratings downgraded shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. UBS Group reiterated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Bank of America assumed coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price on the stock. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a report on Wednesday, March 11th. Finally, Citigroup cut their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $215.17.

Cintas Stock Performance

Shares of CTAS opened at $173.31 on Wednesday. The company’s 50 day moving average price is $172.75 and its 200 day moving average price is $184.74. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $229.24. The company has a market capitalization of $69.34 billion, a PE ratio of 48.96, a PEG ratio of 2.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Research analysts expect that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

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 issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas’s payout ratio is currently 50.85%.

Cintas Company 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.