Renaissance Technologies LLC bought a new position in Cintas Co. (NASDAQ:CTAS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,868 shares of the business services provider’s stock, valued at approximately $13,494,000. Renaissance Technologies LLC owned approximately 0.06% of Cintas as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in the business. Emerald Investment Partners LLC raised its holdings in Cintas by 70.7% in the second quarter. Emerald Investment Partners LLC now owns 2,223 shares of the business services provider’s stock worth $527,000 after purchasing an additional 921 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Cintas during the second quarter valued at about $213,000. First Allied Advisory Services Inc. increased its holdings in shares of Cintas by 8.6% during the second quarter. First Allied Advisory Services Inc. now owns 1,197 shares of the business services provider’s stock valued at $284,000 after acquiring an additional 95 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Cintas by 6.6% during the second quarter. Fiera Capital Corp now owns 2,196 shares of the business services provider’s stock valued at $521,000 after acquiring an additional 135 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Cintas by 2.6% during the second quarter. Korea Investment CORP now owns 66,100 shares of the business services provider’s stock valued at $15,685,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.
NASDAQ CTAS traded up $3.85 during trading hours on Friday, reaching $255.27. The stock had a trading volume of 14,158 shares, compared to its average volume of 553,144. The stock has a fifty day moving average of $259.58 and a 200 day moving average of $232.52. The stock has a market cap of $25.62 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 2.90 and a beta of 0.98. Cintas Co. has a 52-week low of $155.98 and a 52-week high of $270.36. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.69 and a current ratio of 1.98.
Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, July 16th. The business services provider reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.13. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Cintas’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that Cintas Co. will post 8.45 EPS for the current year.
In other Cintas news, insider Michael Lawrence Thompson sold 4,888 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,274,741.52. Following the sale, the insider now owns 69,053 shares in the company, valued at approximately $18,008,331.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,401,224.67. Following the completion of the sale, the vice president now owns 127,624 shares in the company, valued at approximately $33,283,062.96. The disclosure for this sale can be found here. Corporate insiders own 19.10% of the company’s stock.
CTAS has been the topic of several recent analyst reports. Nomura upped their price objective on shares of Cintas from $217.00 to $248.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Zacks Investment Research upgraded shares of Cintas from a “hold” rating to a “buy” rating and set a $273.00 price objective on the stock in a report on Thursday, July 18th. Barclays restated a “buy” rating and set a $265.00 price objective on shares of Cintas in a report on Thursday, July 18th. Bank of America restated a “buy” rating and set a $287.00 price objective (up previously from $261.00) on shares of Cintas in a report on Tuesday, August 13th. Finally, Morgan Stanley upped their price objective on shares of Cintas from $184.00 to $202.00 and gave the company an “underweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $241.44.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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