Cintas Corporation (NASDAQ:CTAS) Shares Acquired by Cerity Partners LLC

by · The Cerbat Gem

Cerity Partners LLC lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,125 shares of the business services provider’s stock after buying an additional 5,016 shares during the period. Cerity Partners LLC’s holdings in Cintas were worth $38,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ameriprise Financial Inc. increased its holdings in shares of Cintas by 26.7% in the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider’s stock valued at $407,163,000 after buying an additional 468,950 shares in the last quarter. Alpine Global Management LLC purchased a new position in shares of Cintas during the 4th quarter valued at $284,000. Treasurer of the State of North Carolina grew its holdings in shares of Cintas by 12.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider’s stock valued at $31,092,000 after acquiring an additional 18,620 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Cintas by 97.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider’s stock valued at $1,365,000 after acquiring an additional 3,690 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Cintas by 5.7% in the fourth quarter. Bank of Montreal Can now owns 575,491 shares of the business services provider’s stock worth $105,142,000 after purchasing an additional 30,811 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director owned 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.00% of the company’s stock.

Cintas Stock Down 0.5%

Shares of CTAS opened at $215.44 on Friday. The company has a 50-day simple moving average of $220.63 and a 200-day simple moving average of $206.90. The firm has a market capitalization of $86.99 billion, a P/E ratio of 49.90, a P/E/G ratio of 3.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a 52 week low of $178.42 and a 52 week high of $229.24.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. UBS Group upped their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. Finally, Bank of America started coverage on shares of Cintas in a report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $219.58.

Get Our Latest Analysis on CTAS

Cintas Company Profile

(Free Report)

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.

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