269,000 Shares in Cintas Corporation $CTAS Acquired by Mariner Investment Group LLC

Mariner Investment Group LLC bought a new stake in Cintas Corporation (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 269,000 shares of the business services provider’s stock, valued at approximately $50,591,000. Cintas makes up approximately 3.0% of Mariner Investment Group LLC’s portfolio, making the stock its 15th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in shares of Cintas by 1.4% during the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after buying an additional 210,477 shares during the last quarter. Geode Capital Management LLC lifted its position in Cintas by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after acquiring an additional 97,220 shares during the last quarter. Norges Bank acquired a new position in Cintas in the fourth quarter valued at $923,672,000. Morgan Stanley grew its holdings in shares of Cintas by 0.8% during the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Cintas by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock worth $517,466,000 after purchasing an additional 158,785 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 0.7%

Cintas stock opened at $170.85 on Friday. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The stock has a 50 day moving average of $173.57 and a two-hundred day moving average of $183.97. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $68.36 billion, a price-to-earnings ratio of 48.26, a PEG ratio of 2.70 and a beta of 0.94.

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

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas’s dividend payout ratio is currently 50.85%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday. UBS Group restated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Citigroup cut their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. Finally, Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $215.92.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.90% of the stock is currently owned by corporate insiders.

Cintas Company 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.