Principal Financial Group Inc. reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 6.1% during the first quarter, Holdings Channel reports. The institutional investor owned 130,079 shares of the business services provider’s stock after selling 8,473 shares during the quarter. Principal Financial Group Inc.’s holdings in Cintas were worth $26,290,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Capital Financial Planning LLC purchased a new stake in shares of Cintas during the fourth quarter worth about $29,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Cintas during the first quarter worth about $36,000. CWM LLC boosted its holdings in shares of Cintas by 52.4% during the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after purchasing an additional 66 shares during the period. Washington Trust Bank purchased a new stake in shares of Cintas during the first quarter worth about $45,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Cintas by 836.7% during the first quarter. Rockefeller Capital Management L.P. now owns 281 shares of the business services provider’s stock worth $57,000 after purchasing an additional 251 shares during the period. 67.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CTAS opened at $236.37 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.80. Cintas Co. has a one year low of $155.98 and a one year high of $237.45. The stock has a market capitalization of $24.72 billion, a price-to-earnings ratio of 39.79, a P/E/G ratio of 2.33 and a beta of 1.00.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, March 21st. The business services provider reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.13. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The business had revenue of $1.68 million during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the business posted $1.37 earnings per share. Cintas’s quarterly revenue was down 99.9% compared to the same quarter last year. Sell-side analysts predict that Cintas Co. will post 7.46 EPS for the current fiscal year.
In other Cintas news, Director Joseph Scaminace sold 6,255 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $222.20, for a total value of $1,389,861.00. Following the completion of the sale, the director now directly owns 7,973 shares in the company, valued at $1,771,600.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas E. Frooman sold 2,415 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $207.81, for a total transaction of $501,861.15. Following the completion of the sale, the vice president now owns 122,251 shares of the company’s stock, valued at $25,404,980.31. The disclosure for this sale can be found here. Company insiders own 19.10% of the company’s stock.
A number of research firms have recently weighed in on CTAS. Zacks Investment Research upgraded shares of Cintas from a “hold” rating to a “buy” rating and set a $248.00 target price for the company in a report on Thursday, May 16th. BidaskClub upgraded shares of Cintas from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. increased their target price on shares of Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, Morgan Stanley increased their target price on shares of Cintas from $163.00 to $172.00 and gave the stock an “underweight” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $200.05.
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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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