Bridges Investment Management Inc. Sells 4,776 Shares of Cintas Corporation $CTAS

Bridges Investment Management Inc. trimmed its stake in Cintas Corporation (NASDAQ:CTAS) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,038 shares of the business services provider’s stock after selling 4,776 shares during the period. Bridges Investment Management Inc.’s holdings in Cintas were worth $50,034,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CTAS. Vanguard Group Inc. grew its stake in shares of Cintas by 1.5% during the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock valued at $7,994,594,000 after buying an additional 564,487 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after purchasing an additional 97,220 shares in the last quarter. Norges Bank bought a new position in shares of Cintas during the fourth quarter valued at approximately $923,672,000. Nordea Investment Management AB boosted its stake in shares of Cintas by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock valued at $517,466,000 after purchasing an additional 158,785 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Cintas by 0.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock worth $524,460,000 after acquiring an additional 12,841 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 14.90% of the company’s stock.

Cintas Stock Up 0.2%

CTAS stock opened at $173.31 on Wednesday. The firm has a 50 day moving average of $172.75 and a 200 day moving average of $184.74. The stock has a market capitalization of $69.34 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 2.75 and a beta of 0.94. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $229.24.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio is 50.85%.

Wall Street Analyst Weigh In

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