Bath Savings Trust Co Buys 1,285 Shares of Cintas Co. (NASDAQ:CTAS)

Bath Savings Trust Co increased its holdings in shares of Cintas Co. (NASDAQ:CTASFree Report) by 32.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,304 shares of the business services provider’s stock after buying an additional 1,285 shares during the quarter. Bath Savings Trust Co’s holdings in Cintas were worth $3,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. Osaic Holdings Inc. lifted its stake in shares of Cintas by 5,584.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,997,277 shares of the business services provider’s stock worth $15,337,000 after acquiring an additional 1,962,139 shares during the last quarter. Norges Bank purchased a new position in Cintas during the 4th quarter worth $379,291,000. Select Equity Group L.P. increased its holdings in Cintas by 1,344.1% during the 4th quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after purchasing an additional 440,662 shares during the period. Goldman Sachs Group Inc. increased its holdings in Cintas by 52.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock worth $422,825,000 after purchasing an additional 292,701 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Cintas by 8,140.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock worth $73,609,000 after purchasing an additional 170,939 shares during the period. 62.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CTAS. Royal Bank of Canada raised their price objective on Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. JPMorgan Chase & Co. raised their price objective on Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Deutsche Bank Aktiengesellschaft downgraded Cintas from a “buy” rating to a “hold” rating and raised their price objective for the stock from $551.00 to $590.00 in a report on Friday, December 8th. Barclays lifted their price target on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Truist Financial lifted their price target on Cintas from $645.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $571.29.

Get Our Latest Report on Cintas

Cintas Stock Down 0.4 %

Shares of CTAS stock opened at $627.38 on Friday. Cintas Co. has a 1-year low of $427.83 and a 1-year high of $636.37. The stock’s fifty day moving average price is $612.66 and its 200 day moving average price is $559.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.24 and a quick ratio of 1.89. The company has a market cap of $63.60 billion, a price-to-earnings ratio of 45.53, a price-to-earnings-growth ratio of 3.61 and a beta of 1.27.

Cintas (NASDAQ:CTASGet Free Report) last issued its quarterly earnings results on Thursday, December 21st. The business services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.12. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the firm posted $3.12 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts expect that Cintas Co. will post 14.57 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were given a dividend of $1.35 per share. The ex-dividend date was Wednesday, February 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.86%. Cintas’s dividend payout ratio is currently 39.19%.

Insiders Place Their Bets

In other Cintas news, CFO J. Michael Hansen sold 9,774 shares of Cintas stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $596.91, for a total transaction of $5,834,198.34. Following the completion of the sale, the chief financial officer now owns 37,732 shares of the company’s stock, valued at approximately $22,522,608.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.10% of the stock is currently owned by insiders.

About Cintas

(Free Report)

Cintas Corporation provides 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.

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Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTASFree Report).

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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