206,600 Shares in Cintas Co. (NASDAQ:CTAS) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 206,600 shares of the business services provider’s stock, valued at approximately $37,746,000.

Several other hedge funds also recently made changes to their positions in the company. Intellus Advisors LLC acquired a new stake in shares of Cintas in the 4th quarter worth $822,000. Mizuho Securities USA LLC lifted its stake in shares of Cintas by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 32,490 shares of the business services provider’s stock worth $5,936,000 after acquiring an additional 10,273 shares during the period. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas in the 4th quarter worth $29,000. Summit Global Investments lifted its stake in shares of Cintas by 86.8% in the 4th quarter. Summit Global Investments now owns 2,027 shares of the business services provider’s stock worth $370,000 after acquiring an additional 942 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Cintas in the 4th quarter worth $439,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CTAS. UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Truist Financial reduced their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley raised their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird reduced their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $199.79.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $191.17 on Friday. The company has a market cap of $77.15 billion, a PE ratio of 46.09, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 12 month low of $158.10 and a 12 month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a 50-day simple moving average of $200.46 and a 200-day simple moving average of $208.85.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $3.61 earnings per share. Cintas’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.82%. Cintas’s payout ratio is 37.59%.

About Cintas

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.