Convergence Investment Partners LLC Takes $571,000 Position in Cintas Co. (NASDAQ:CTAS)

Convergence Investment Partners LLC purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,144 shares of the business services provider’s stock, valued at approximately $571,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. Korea Investment CORP grew its stake in shares of Cintas by 426.7% during the first quarter. Korea Investment CORP now owns 251,775 shares of the business services provider’s stock valued at $43,612,000 after purchasing an additional 203,975 shares during the last quarter. Ardevora Asset Management LLP boosted its stake in Cintas by 48,100.0% in the first quarter. Ardevora Asset Management LLP now owns 192,800 shares of the business services provider’s stock valued at $33,397,000 after acquiring an additional 192,400 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt boosted its stake in Cintas by 208.4% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 257,500 shares of the business services provider’s stock valued at $44,602,000 after acquiring an additional 174,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Cintas by 34.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 615,312 shares of the business services provider’s stock valued at $163,895,000 after acquiring an additional 156,168 shares during the last quarter. Finally, London Co. of Virginia boosted its stake in Cintas by 44.2% in the first quarter. London Co. of Virginia now owns 465,276 shares of the business services provider’s stock valued at $80,595,000 after acquiring an additional 142,707 shares during the last quarter. 63.51% of the stock is currently owned by institutional investors and hedge funds.

CTAS traded up $0.06 during mid-day trading on Friday, hitting $301.87. The stock had a trading volume of 736,603 shares, compared to its average volume of 471,940. The stock’s fifty day simple moving average is $274.99 and its 200-day simple moving average is $251.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.61 and a quick ratio of 2.15. The firm has a market capitalization of $31.24 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 3.85 and a beta of 1.44. Cintas Co. has a 1-year low of $154.33 and a 1-year high of $311.02.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, July 23rd. The business services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.13. Cintas had a net margin of 12.36% and a return on equity of 27.57%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the business posted $2.07 earnings per share. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, research analysts expect that Cintas Co. will post 8.14 earnings per share for the current fiscal year.

A number of brokerages have issued reports on CTAS. Jefferies Financial Group raised their price objective on shares of Cintas from $302.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. BidaskClub raised shares of Cintas from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Stifel Nicolaus raised their price objective on shares of Cintas from $249.00 to $288.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Zacks Investment Research cut shares of Cintas from a “hold” rating to a “sell” rating and set a $240.00 price objective on the stock. in a research note on Friday, May 15th. Finally, William Blair cut shares of Cintas from an “outperform” rating to a “market perform” rating in a research note on Monday, April 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Cintas presently has a consensus rating of “Hold” and an average price target of $263.70.

Cintas Profile

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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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