Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 46,050 Shares of Cintas Corporation $CTAS

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Cintas Corporation (NASDAQ:CTAS) by 47.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 143,026 shares of the business services provider’s stock after purchasing an additional 46,050 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cintas were worth $24,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prana Capital Management LP purchased a new position in Cintas in the 3rd quarter worth approximately $14,312,000. First Trust Advisors LP increased its holdings in shares of Cintas by 2.5% in the 3rd quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after buying an additional 10,249 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Cintas during the 4th quarter valued at $15,736,000. California Public Employees Retirement System raised its position in shares of Cintas by 19.0% during the 3rd quarter. California Public Employees Retirement System now owns 792,816 shares of the business services provider’s stock valued at $162,733,000 after buying an additional 126,845 shares in the last quarter. Finally, Caledonia Investments PLC bought a new stake in shares of Cintas during the 4th quarter worth $33,287,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America reduced their target price on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Truist Financial cut their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Finally, UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $211.25.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.90% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $181.37 on Friday. The firm has a market cap of $72.56 billion, a P/E ratio of 51.23, a P/E/G ratio of 2.89 and a beta of 0.94. The firm’s fifty day moving average is $172.75 and its 200 day moving average is $182.99. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is presently 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.