Pensionfund Sabic Acquires 2,000 Shares of Cintas Co. (NASDAQ:CTAS)

Pensionfund Sabic lifted its stake in Cintas Co. (NASDAQ:CTAS) by 28.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,000 shares of the business services provider’s stock after buying an additional 2,000 shares during the quarter. Pensionfund Sabic’s holdings in Cintas were worth $1,644,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New York Life Investment Management LLC increased its holdings in shares of Cintas by 1.1% in the second quarter. New York Life Investment Management LLC now owns 13,140 shares of the business services provider’s stock worth $9,201,000 after purchasing an additional 141 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Cintas by 18.7% during the 2nd quarter. Private Advisor Group LLC now owns 8,126 shares of the business services provider’s stock valued at $5,691,000 after acquiring an additional 1,278 shares during the last quarter. Savant Capital LLC grew its holdings in shares of Cintas by 287.3% in the second quarter. Savant Capital LLC now owns 2,816 shares of the business services provider’s stock valued at $1,972,000 after purchasing an additional 2,089 shares in the last quarter. Cullen Frost Bankers Inc. increased its position in Cintas by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 1,517 shares of the business services provider’s stock worth $1,062,000 after purchasing an additional 19 shares during the last quarter. Finally, Norden Group LLC raised its stake in Cintas by 2.8% during the second quarter. Norden Group LLC now owns 847 shares of the business services provider’s stock valued at $593,000 after purchasing an additional 23 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. UBS Group decreased their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Finally, Truist Financial decreased their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Price Performance

CTAS stock traded up $0.69 during trading on Monday, hitting $186.54. The stock had a trading volume of 172,764 shares, compared to its average volume of 1,315,357. The company’s 50-day moving average price is $209.06 and its two-hundred day moving average price is $204.23. Cintas Co. has a twelve month low of $143.98 and a twelve month high of $228.12. The stock has a market capitalization of $75.23 billion, a P/E ratio of 47.11, a PEG ratio of 4.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.61 EPS. As a group, research analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.84%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.