Investment Counsel Co. of Nevada Invests $365,000 in Cintas Co. (NASDAQ:CTAS)

Investment Counsel Co. of Nevada acquired a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,000 shares of the business services provider's stock, valued at approximately $365,000. Cintas comprises 0.9% of Investment Counsel Co. of Nevada's investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds also recently modified their holdings of CTAS. China Universal Asset Management Co. Ltd. grew its holdings in Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock worth $1,199,000 after acquiring an additional 1,450 shares during the period. KMG Fiduciary Partners LLC increased its holdings in Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider's stock valued at $2,109,000 after purchasing an additional 6,341 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Annex Advisory Services LLC raised its position in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider's stock valued at $23,283,000 after acquiring an additional 1,988 shares during the period. Finally, LVM Capital Management Ltd. MI boosted its stake in Cintas by 292.7% during the 4th quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider's stock worth $1,002,000 after acquiring an additional 4,086 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Cintas Stock Up 0.5 %

Shares of NASDAQ:CTAS traded up $1.04 during trading on Friday, hitting $205.76. 1,712,106 shares of the company were exchanged, compared to its average volume of 1,703,246. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The stock has a market cap of $83.08 billion, a price-to-earnings ratio of 49.61, a P/E/G ratio of 3.98 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $201.42 and a two-hundred day moving average price of $204.33.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.84 earnings per share. As a group, research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Wall Street Analyst Weigh In

CTAS has been the subject of several research analyst reports. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price target for the company. The Goldman Sachs Group boosted their price objective on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Finally, Truist Financial raised their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $213.62.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.