KLP Kapitalforvaltning AS Acquires New Shares in Cintas Co. (NASDAQ:CTAS)

KLP Kapitalforvaltning AS acquired a new stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 206,600 shares of the business services provider's stock, valued at approximately $37,746,000. KLP Kapitalforvaltning AS owned about 0.05% of Cintas as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Advisors LLC increased its position in shares of Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock valued at $318,000 after acquiring an additional 52 shares during the period. MGB Wealth Management LLC grew its stake in shares of Cintas by 0.7% in the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after purchasing an additional 52 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in Cintas by 2.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock valued at $512,000 after purchasing an additional 55 shares during the period. S.A. Mason LLC raised its position in Cintas by 3.3% during the 4th quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider's stock valued at $311,000 after purchasing an additional 55 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in Cintas by 1.0% in the 4th quarter. Frank Rimerman Advisors LLC now owns 6,167 shares of the business services provider's stock worth $1,127,000 after buying an additional 59 shares during the period. Institutional investors own 63.46% of the company's stock.

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Cintas Stock Down 0.8 %

Cintas stock traded down $1.54 during mid-day trading on Tuesday, hitting $193.03. The company had a trading volume of 742,428 shares, compared to its average volume of 1,530,549. Cintas Co. has a 12 month low of $158.10 and a 12 month high of $228.12. 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 stock's 50 day moving average price is $200.54 and its two-hundred day moving average price is $208.93. The company has a market capitalization of $77.90 billion, a PE ratio of 46.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, February 14th. Cintas's dividend payout ratio (DPR) is 37.59%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Truist Financial reduced their price objective on shares of Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Citigroup assumed coverage on shares of Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Cintas currently has an average rating of "Hold" and an average price target of $199.79.

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.