Riverbridge Partners LLC Buys 16,437 Shares of Cintas Corporation $CTAS

Riverbridge Partners LLC boosted its stake in Cintas Corporation (NASDAQ:CTAS) by 7.7% during the first quarter, Holdings Channel reports. The institutional investor owned 229,158 shares of the business services provider’s stock after buying an additional 16,437 shares during the period. Riverbridge Partners LLC’s holdings in Cintas were worth $38,760,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Cintas during the fourth quarter worth approximately $923,672,000. Two Sigma Investments LP grew its position in shares of Cintas by 5,641.3% in the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after purchasing an additional 998,963 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Cintas by 2,653.0% during the fourth quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock worth $188,640,000 after purchasing an additional 966,597 shares during the period. Voloridge Investment Management LLC increased its stake in shares of Cintas by 275.2% during the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after purchasing an additional 823,885 shares during the period. Finally, Freestone Grove Partners LP increased its stake in shares of Cintas by 5,341.8% during the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after purchasing an additional 733,380 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent research reports. Stifel Nicolaus reduced 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 lowered their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Weiss Ratings downgraded Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Finally, Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $215.92.

Cintas Price Performance

Cintas stock opened at $168.80 on Wednesday. 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 Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The stock has a market capitalization of $67.54 billion, a P/E ratio of 47.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.94. The stock has a fifty day moving average of $173.28 and a 200-day moving average of $183.65.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 EPS. On average, sell-side analysts expect that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.1%. Cintas’s payout ratio is presently 50.85%.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.90% of the company’s stock.

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.