DnB Asset Management AS Sells 919 Shares of Cintas Co. (NASDAQ:CTAS)

DnB Asset Management AS reduced its position in Cintas Co. (NASDAQ:CTAS) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 72,193 shares of the business services provider’s stock after selling 919 shares during the period. DnB Asset Management AS’s holdings in Cintas were worth $13,190,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTAS. Sound Income Strategies LLC bought a new position in shares of Cintas during the fourth quarter valued at $27,000. Cyrus J. Lawrence LLC bought a new position in Cintas during the 4th quarter valued at about $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the 4th quarter valued at about $31,000. IAG Wealth Partners LLC grew its stake in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after acquiring an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas in the fourth quarter worth approximately $34,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $203.22 on Friday. The business’s 50-day simple moving average is $201.01 and its two-hundred day simple moving average is $208.92. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The stock has a market cap of $82.01 billion, a PE ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the firm earned $3.84 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas’s dividend payout ratio is 36.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTAS shares. Truist Financial raised their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Thursday. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $210.58.

About Cintas

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.