Sumitomo Life Insurance Co. raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,494 shares of the business services provider’s stock after buying an additional 414 shares during the period. Sumitomo Life Insurance Co.’s holdings in Cintas were worth $2,490,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Financial Gravity Wealth Inc. acquired a new stake in shares of Cintas during the 1st quarter valued at $36,000. CWM LLC lifted its stake in shares of Cintas by 52.4% in the 1st quarter. CWM LLC now owns 192 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. Sonora Investment Management LLC acquired a new stake in shares of Cintas in the 2nd quarter valued at $42,000. Washington Trust Bank acquired a new stake in shares of Cintas in the 1st quarter valued at $45,000. Finally, Lenox Wealth Management Inc. lifted its stake in shares of Cintas by 20.5% in the 2nd quarter. Lenox Wealth Management Inc. now owns 235 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 40 shares during the last quarter. 68.23% of the stock is owned by institutional investors.
In other news, insider Michael Lawrence Thompson sold 4,888 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction of $1,274,741.52. Following the transaction, the insider now owns 69,053 shares in the company, valued at approximately $18,008,331.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total transaction of $1,401,224.67. Following the transaction, the vice president now owns 127,624 shares in the company, valued at approximately $33,283,062.96. The disclosure for this sale can be found here. Company insiders own 19.10% of the company’s stock.
Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, July 16th. The business services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.94 by $0.13. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.78 billion. Cintas had a net margin of 12.80% and a return on equity of 26.77%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. As a group, research analysts forecast that Cintas Co. will post 8.45 EPS for the current year.
CTAS has been the subject of several analyst reports. BidaskClub lowered shares of Cintas from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Morgan Stanley lifted their price objective on shares of Cintas from $184.00 to $202.00 and gave the company an “underweight” rating in a research note on Wednesday, July 17th. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $273.00 price objective for the company in a research note on Thursday, July 18th. William Blair reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, June 20th. Finally, Royal Bank of Canada lifted their price objective on shares of Cintas to $267.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Cintas currently has a consensus rating of “Buy” and a consensus target price of $228.06.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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