Nearwater Capital Markets Ltd Purchases Shares of 37,000 Cintas Co. (NASDAQ:CTAS)

Nearwater Capital Markets Ltd acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,000 shares of the business services provider’s stock, valued at approximately $6,760,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in Cintas in the 4th quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Cintas in the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas during the fourth quarter worth approximately $31,000. IAG Wealth Partners LLC raised its stake in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CTAS shares. The Goldman Sachs Group lifted their target price on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Redburn Atlantic downgraded shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a research report on Thursday, May 1st. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Truist Financial lifted their price target on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, UBS Group upped their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $213.88.

Cintas Trading Down 0.8%

Shares of NASDAQ:CTAS opened at $215.33 on Wednesday. Cintas Co. has a 12-month low of $164.93 and a 12-month high of $228.12. The firm has a fifty day moving average of $203.45 and a two-hundred day moving average of $204.52. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $86.95 billion, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the business earned $3.84 earnings per share. Cintas’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s dividend payout ratio is 36.11%.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 8,521 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.