Handelsbanken Fonder AB Has $14.69 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Handelsbanken Fonder AB trimmed its position in Cintas Co. (NASDAQ:CTAS) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,371 shares of the business services provider’s stock after selling 2,504 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cintas were worth $14,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janiczek Wealth Management LLC boosted its holdings in shares of Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after buying an additional 26 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in shares of Cintas by 33.9% during the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after purchasing an additional 19 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cintas during the fourth quarter worth approximately $46,000. Oakworth Capital Inc. acquired a new stake in shares of Cintas during the fourth quarter worth approximately $48,000. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Cintas by 66.7% during the third quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock worth $41,000 after purchasing an additional 34 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CTAS. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. The Goldman Sachs Group raised their price target on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Robert W. Baird raised their price target on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada raised their price target on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, UBS Group raised their price objective on shares of Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $661.21.

Cintas Trading Up 0.2 %

NASDAQ:CTAS opened at $666.33 on Wednesday. Cintas Co. has a 12 month low of $438.59 and a 12 month high of $704.84. The firm has a market cap of $67.55 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 3.87 and a beta of 1.27. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $645.27 and its 200-day moving average is $591.22.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm posted $3.14 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 14.95 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is currently 37.29%.

Cintas Profile

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.