Nomura Asset Management Co. Ltd. Has $96.59 Million Stake in Cintas Co. (NASDAQ:CTAS)

Nomura Asset Management Co. Ltd. lowered its stake in Cintas Co. (NASDAQ:CTAS) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 528,702 shares of the business services provider’s stock after selling 1,789 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.13% of Cintas worth $96,594,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CTAS. Guardian Wealth Advisors LLC lifted its holdings in Cintas by 3.1% in the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after purchasing an additional 52 shares during the last quarter. MGB Wealth Management LLC raised its position in shares of Cintas by 0.7% in the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after purchasing an additional 52 shares during the period. TIAA Trust National Association lifted its stake in shares of Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after buying an additional 52 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of Cintas by 2.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock worth $512,000 after buying an additional 55 shares during the period. Finally, S.A. Mason LLC grew its stake in Cintas by 3.3% in the 4th quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider’s stock valued at $311,000 after buying an additional 55 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $206.25 on Friday. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market cap of $83.23 billion, a P/E ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The firm’s 50-day simple moving average is $200.91 and its 200-day simple moving average is $208.87.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.84 earnings per share. As a group, research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio is 36.11%.

Analysts Set New Price Targets

A number of research firms have weighed in on CTAS. UBS Group boosted their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Thursday. Wells Fargo & Company raised their target price on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a report on Thursday. Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their price objective on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $207.57.

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.