Silvercrest Asset Management Group LLC Has $654,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Silvercrest Asset Management Group LLC boosted its position in Cintas Co. (NASDAQ:CTAS) by 1.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,755 shares of the business services provider’s stock after acquiring an additional 44 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Cintas were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of CTAS. OppenheimerFunds Inc. grew its position in Cintas by 336.6% in the 1st quarter. OppenheimerFunds Inc. now owns 653,407 shares of the business services provider’s stock worth $132,061,000 after purchasing an additional 503,747 shares during the last quarter. FMR LLC grew its position in Cintas by 21.2% in the 1st quarter. FMR LLC now owns 2,722,998 shares of the business services provider’s stock worth $550,345,000 after purchasing an additional 475,757 shares during the last quarter. Vanguard Group Inc. grew its position in Cintas by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,033,781 shares of the business services provider’s stock worth $2,380,916,000 after purchasing an additional 382,578 shares during the last quarter. Neuberger Berman Group LLC grew its position in Cintas by 145.6% in the 1st quarter. Neuberger Berman Group LLC now owns 409,863 shares of the business services provider’s stock worth $82,837,000 after purchasing an additional 242,991 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Cintas by 124.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 322,587 shares of the business services provider’s stock worth $65,199,000 after purchasing an additional 179,023 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

In related news, insider Michael Lawrence Thompson sold 4,888 shares of Cintas 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 completion of the transaction, the insider now directly owns 69,053 shares of the company’s stock, valued at approximately $18,008,331.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of Cintas stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction of $1,401,224.67. Following the transaction, the vice president now directly owns 127,624 shares of the company’s stock, valued at $33,283,062.96. The disclosure for this sale can be found here. 19.10% of the stock is currently owned by insiders.



CTAS has been the topic of several research analyst reports. Credit Suisse Group raised their price target on shares of Cintas from $160.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Bank of America restated a “buy” rating and issued a $287.00 price target (up from $261.00) on shares of Cintas in a research report on Tuesday, August 13th. William Blair restated a “buy” rating on shares of Cintas in a research report on Thursday, June 20th. Nomura lifted their target price on shares of Cintas from $217.00 to $248.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Barclays reiterated a “buy” rating and set a $265.00 target price on shares of Cintas in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Cintas currently has an average rating of “Buy” and an average target price of $241.44.

Shares of Cintas stock traded up $2.36 during trading on Friday, hitting $253.78. 713,436 shares of the company’s stock traded hands, compared to its average volume of 547,512. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.98 and a quick ratio of 1.69. The firm’s fifty day moving average price is $259.40 and its 200 day moving average price is $232.75. Cintas Co. has a twelve month low of $155.98 and a twelve month high of $270.36. The company has a market cap of $26.17 billion, a PE ratio of 33.39, a PEG ratio of 2.90 and a beta of 0.98.

Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, July 16th. The business services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.13. Cintas had a net margin of 12.80% and a return on equity of 26.77%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $1.77 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Co. will post 8.45 earnings per share for the current year.

Cintas Company Profile

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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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