Penobscot Investment Management Company Inc. Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Penobscot Investment Management Company Inc. boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 7.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,343 shares of the business services provider’s stock after buying an additional 725 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Cintas were worth $6,233,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CTAS. Invesco Ltd. grew its position in Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after acquiring an additional 151,783 shares during the last quarter. American Century Companies Inc. increased its stake in Cintas by 40.7% in the 3rd quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock worth $235,009,000 after buying an additional 141,375 shares during the period. FMR LLC boosted its position in Cintas by 5.5% in the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after buying an additional 123,468 shares during the period. Acadian Asset Management LLC increased its position in shares of Cintas by 257.8% during the third quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock worth $69,978,000 after acquiring an additional 104,854 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after purchasing an additional 85,662 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Cintas stock traded down $3.59 during midday trading on Tuesday, hitting $662.24. 84,403 shares of the company were exchanged, compared to its average volume of 345,991. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. Cintas Co. has a fifty-two week low of $454.70 and a fifty-two week high of $704.84. The business has a fifty day simple moving average of $649.24 and a two-hundred day simple moving average of $595.62. The firm has a market capitalization of $67.13 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.14 earnings per share. On average, sell-side analysts forecast that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is presently 37.29%.

Analyst Ratings Changes

CTAS has been the subject of several recent research reports. Oppenheimer restated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Barclays upped their price target on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on shares of Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Bank of America upped their target price on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Moderate Buy” and an average price target of $661.21.

About Cintas

Cintas Corporation provides 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.