Novem Group Sells 4,172 Shares of Cintas Corporation $CTAS

Novem Group lowered its stake in Cintas Corporation (NASDAQ:CTAS) by 76.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,302 shares of the business services provider’s stock after selling 4,172 shares during the period. Novem Group’s holdings in Cintas were worth $245,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CTAS. Key Capital Management INC bought a new position in shares of Cintas in the fourth quarter worth $28,000. Triumph Capital Management bought a new position in shares of Cintas in the third quarter worth $29,000. Alpine Bank Wealth Management increased its position in shares of Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock worth $34,000 after purchasing an additional 153 shares during the period. Aventura Private Wealth LLC bought a new position in shares of Cintas in the fourth quarter worth $34,000. Finally, WPG Advisers LLC increased its position in shares of Cintas by 90.0% in the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock worth $35,000 after purchasing an additional 81 shares during the period. Institutional investors own 63.46% of the company’s stock.

Insider Activity at Cintas

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 sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 14.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTAS. Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Stifel Nicolaus reduced their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Bank of America started coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. Finally, Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $215.17.

Cintas Stock Performance

NASDAQ:CTAS opened at $174.66 on Thursday. The stock’s 50-day simple moving average is $186.03 and its 200 day simple moving average is $188.01. The firm has a market capitalization of $69.88 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.01. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. Cintas Corporation has a twelve month low of $165.60 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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 analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. On average, analysts anticipate 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 paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

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.