Lord Abbett & CO. LLC Has $86.15 Million Stake in Cintas Corporation $CTAS

Lord Abbett & CO. LLC trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 10.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 458,081 shares of the business services provider’s stock after selling 52,534 shares during the period. Lord Abbett & CO. LLC’s holdings in Cintas were worth $86,151,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Cintas by 1.5% during the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after buying an additional 564,487 shares during the last quarter. Geode Capital Management LLC increased its position in Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after buying an additional 97,220 shares during the last quarter. Norges Bank acquired a new position in Cintas during the fourth quarter worth $923,672,000. Nordea Investment Management AB boosted its holdings in 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 valued at $517,466,000 after acquiring an additional 158,785 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Cintas by 0.5% during the third quarter. Ameriprise Financial Inc. now owns 2,559,852 shares of the business services provider’s stock valued at $524,460,000 after acquiring an additional 12,841 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 3.1%

NASDAQ CTAS opened at $176.28 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a 50-day simple moving average of $173.55 and a 200 day simple moving average of $184.29. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The stock has a market cap of $70.53 billion, a PE ratio of 49.80, a PEG ratio of 2.89 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share 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 business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company earned $1.13 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, research analysts forecast that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTAS. Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Stifel Nicolaus decreased their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. 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 report on Wednesday, March 11th. Citigroup decreased their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Finally, Bank of America began coverage on shares of Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned 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 an average target price of $215.17.

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.