Terra Nova Asset Management LLC decreased its position in Cintas Corp. (NASDAQ:CTAS) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 18,219 shares of the company’s stock after selling 611 shares during the period. Cintas Corp. comprises about 3.1% of Terra Nova Asset Management LLC’s holdings, making the stock its 3rd largest position. Terra Nova Asset Management LLC’s holdings in Cintas Corp. were worth $1,788,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. increased its position in shares of Cintas Corp. by 1.2% in the first quarter. Franklin Resources Inc. now owns 1,796,341 shares of the company’s stock worth $161,330,000 after buying an additional 21,199 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Cintas Corp. by 5.2% in the first quarter. Prudential Financial Inc. now owns 123,605 shares of the company’s stock worth $11,101,000 after buying an additional 6,110 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Cintas Corp. by 1.6% in the first quarter. Teachers Advisors Inc. now owns 87,918 shares of the company’s stock worth $7,896,000 after buying an additional 1,411 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Cintas Corp. by 0.7% in the first quarter. TIAA CREF Investment Management LLC now owns 457,069 shares of the company’s stock worth $41,049,000 after buying an additional 2,960 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in shares of Cintas Corp. during the first quarter worth approximately $1,060,000. Hedge funds and other institutional investors own 65.78% of the company’s stock.
Shares of Cintas Corp. (NASDAQ:CTAS) traded up 0.75% during midday trading on Wednesday, hitting $114.71. 541,659 shares of the stock were exchanged. Cintas Corp. has a 12-month low of $80.00 and a 12-month high of $119.94. The company has a market cap of $11.95 billion, a PE ratio of 18.38 and a beta of 0.85. The firm has a 50-day moving average price of $113.14 and a 200-day moving average price of $98.65.
Cintas Corp. (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. The business earned $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Cintas Corp. had a net margin of 14.14% and a return on equity of 24.16%. During the same period last year, the business earned $0.86 EPS. On average, equities analysts predict that Cintas Corp. will post $4.42 EPS for the current year.
A number of equities analysts recently commented on the stock. Macquarie assumed coverage on shares of Cintas Corp. in a research note on Thursday, August 25th. They set a “neutral” rating and a $130.00 target price for the company. Nomura reiterated a “buy” rating and set a $135.00 target price (up previously from $124.00) on shares of Cintas Corp. in a research note on Thursday, August 25th. Zacks Investment Research downgraded shares of Cintas Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp boosted their target price on shares of Cintas Corp. from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th. Finally, Robert W. Baird upgraded shares of Cintas Corp. from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $111.00 to $140.00 in a research note on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $112.36.
In related news, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $108.12, for a total transaction of $216,240.00. Following the completion of the sale, the director now directly owns 11,590 shares of the company’s stock, valued at approximately $1,253,110.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 19.10% of the company’s stock.
About Cintas Corp.
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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