Life Cycle Investment Partners Ltd Makes New Investment in Cintas Corporation $CTAS

Life Cycle Investment Partners Ltd acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 144,654 shares of the business services provider’s stock, valued at approximately $27,205,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. Brighton Jones LLC increased its holdings in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after purchasing an additional 428 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Cintas during the 2nd quarter worth approximately $625,000. Treasurer of the State of North Carolina increased its holdings in Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after purchasing an additional 31,068 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CTAS. Stifel Nicolaus decreased their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Bank of America assumed coverage on Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. Finally, Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $215.17.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.90% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $172.93 on Friday. The stock has a fifty day simple moving average of $174.93 and a two-hundred day simple moving average of $185.28. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $229.24. The firm has a market cap of $69.19 billion, a price-to-earnings ratio of 48.85, a price-to-earnings-growth ratio of 3.04 and a beta of 0.96. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company earned $1.13 earnings per share. Cintas’s revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

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

Cintas 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.