Boys Arnold & Co. Inc. lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 3.7% during the first quarter, Holdings Channel reports. The institutional investor owned 5,180 shares of the business services provider’s stock after selling 200 shares during the period. Boys Arnold & Co. Inc.’s holdings in Cintas were worth $655,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Cintas during the third quarter valued at approximately $3,548,000. Nationwide Fund Advisors increased its stake in Cintas by 61.5% in the third quarter. Nationwide Fund Advisors now owns 39,402 shares of the business services provider’s stock valued at $4,437,000 after buying an additional 15,000 shares in the last quarter. Solaris Asset Management LLC increased its stake in Cintas by 1.1% in the third quarter. Solaris Asset Management LLC now owns 39,239 shares of the business services provider’s stock valued at $4,418,000 after buying an additional 440 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Cintas by 6.6% in the third quarter. Quadrant Capital Group LLC now owns 1,203 shares of the business services provider’s stock valued at $132,000 after buying an additional 74 shares in the last quarter. Finally, Conning Inc. increased its stake in Cintas by 4.9% in the third quarter. Conning Inc. now owns 2,342 shares of the business services provider’s stock valued at $264,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 66.28% of the company’s stock.
Shares of Cintas Co. (NASDAQ:CTAS) traded up 0.257% during midday trading on Thursday, reaching $122.965. The company had a trading volume of 204,335 shares. The company has a market capitalization of $12.95 billion, a P/E ratio of 25.501 and a beta of 0.87. The company has a 50-day moving average price of $122.33 and a 200 day moving average price of $115.99. Cintas Co. has a one year low of $88.51 and a one year high of $128.85.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 22nd. The business services provider reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. Cintas had a return on equity of 24.80% and a net margin of 10.37%. The company earned $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. Cintas’s revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post $4.53 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Boys Arnold & Co. Inc. Lowers Stake in Cintas Co. (CTAS)” was first posted by WKRB News and is the sole property of of WKRB News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at http://www.wkrb13.com/markets/2065175/boys-arnold-co-inc-lowers-stake-in-cintas-co-ctas.html.
Several equities research analysts have recently commented on CTAS shares. Royal Bank of Canada restated a “sector perform” rating on shares of Cintas in a report on Tuesday, December 27th. Zacks Investment Research upgraded Cintas from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Tuesday, January 10th. William Blair restated an “outperform” rating on shares of Cintas in a report on Wednesday, January 18th. Deutsche Bank AG started coverage on Cintas in a report on Wednesday, February 22nd. They set a “hold” rating and a $120.00 price objective for the company. Finally, Piper Jaffray Companies boosted their price objective on Cintas from $117.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Cintas presently has an average rating of “Hold” and an average price target of $129.20.
In related news, VP Thomas E. Frooman sold 11,500 shares of Cintas stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $127.23, for a total value of $1,463,145.00. Following the completion of the sale, the vice president now owns 74,466 shares of the company’s stock, valued at $9,474,309.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO J. Michael Hansen sold 5,477 shares of Cintas stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $125.72, for a total value of $688,568.44. Following the completion of the sale, the chief financial officer now directly owns 40,974 shares of the company’s stock, valued at approximately $5,151,251.28. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.
Cintas Company Profile
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS).
This story was originally published by WKRB News (http://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.wkrb13.com/markets/2065175/boys-arnold-co-inc-lowers-stake-in-cintas-co-ctas.html
Receive News & Ratings for Cintas Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas Co. and related companies with MarketBeat.com's FREE daily email newsletter.