KLP Kapitalforvaltning AS Invests $37.75 Million in Cintas Co. (NASDAQ:CTAS)

KLP Kapitalforvaltning AS acquired a new position in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 206,600 shares of the business services provider’s stock, valued at approximately $37,746,000. KLP Kapitalforvaltning AS owned about 0.05% of Cintas as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after acquiring an additional 1,450 shares during the last quarter. KMG Fiduciary Partners LLC lifted its holdings in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after acquiring an additional 6,341 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after buying an additional 1,988 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Truist Financial reduced their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Robert W. Baird dropped their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $199.79.

Cintas Trading Down 1.7 %

NASDAQ CTAS opened at $191.17 on Friday. 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 firm’s fifty day moving average price is $200.46 and its 200 day moving average price is $208.85. The company has a market capitalization of $77.15 billion, a price-to-earnings 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.

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

Cintas Dividend Announcement

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

Cintas Company Profile

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.