Flputnam Investment Management Co. Sells 7,601 Shares of Cintas Corporation $CTAS

Flputnam Investment Management Co. lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 27.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,987 shares of the business services provider’s stock after selling 7,601 shares during the period. Flputnam Investment Management Co.’s holdings in Cintas were worth $3,759,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Triumph Capital Management bought a new stake in shares of Cintas during the 3rd quarter valued at $29,000. Camelot Portfolios LLC bought a new stake in shares of Cintas during the 4th quarter valued at $26,000. Key Capital Management INC bought a new stake in shares of Cintas during the 4th quarter valued at $28,000. Ares Financial Consulting LLC bought a new stake in shares of Cintas during the 4th quarter valued at $32,000. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Cintas during the 4th quarter valued at $34,000. Institutional investors own 63.46% of the company’s stock.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction dated Monday, April 20th. The stock was 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 $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is currently owned by corporate insiders.

Cintas Price Performance

CTAS opened at $169.86 on Thursday. The stock has a 50-day moving average price of $173.60 and a 200-day moving average price of $185.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm has a market cap of $67.96 billion, a PE ratio of 47.98, a P/E/G ratio of 3.01 and a beta of 0.96. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. Sell-side analysts predict that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s payout ratio is currently 50.85%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTAS shares. Bank of America started coverage on shares of Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price on the stock. Citigroup dropped their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Stifel Nicolaus lowered their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Finally, Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $215.17.

Cintas Company 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.