Gateway Investment Advisers LLC Acquires 10,415 Shares of Cintas Corporation $CTAS

Gateway Investment Advisers LLC grew its holdings in Cintas Corporation (NASDAQ:CTAS) by 177.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,289 shares of the business services provider’s stock after acquiring an additional 10,415 shares during the period. Gateway Investment Advisers LLC’s holdings in Cintas were worth $3,063,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTAS. Camelot Portfolios LLC bought a new position in Cintas in the fourth quarter worth approximately $26,000. Key Capital Management INC bought a new position in Cintas in the fourth quarter worth approximately $28,000. Triumph Capital Management bought a new position in Cintas in the third quarter worth approximately $29,000. Ares Financial Consulting LLC bought a new position in Cintas in the fourth quarter worth approximately $32,000. Finally, Aventura Private Wealth LLC bought a new position in Cintas in the fourth quarter worth approximately $34,000. 63.46% of the stock is currently owned by institutional investors.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which is available at this link. 14.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on CTAS shares. Weiss Ratings downgraded shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Citigroup reduced their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Stifel Nicolaus reduced their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Finally, Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $215.17.

Cintas Stock Performance

CTAS opened at $166.97 on Friday. The stock has a market capitalization of $66.80 billion, a price-to-earnings ratio of 47.17, a PEG ratio of 2.99 and a beta of 0.96. The company has a fifty day moving average of $181.83 and a 200 day moving average of $186.85. Cintas Corporation has a fifty-two week low of $165.46 and a fifty-two week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98.

Cintas (NASDAQ:CTAS) last posted 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. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company posted $1.13 earnings per share. As a group, sell-side analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

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.