Railway Pension Investments Ltd Purchases 11,500 Shares of Cintas Co. (NASDAQ:CTAS)

Railway Pension Investments Ltd boosted its position in Cintas Co. (NASDAQ:CTAS) by 25.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,274 shares of the business services provider’s stock after acquiring an additional 11,500 shares during the period. Railway Pension Investments Ltd owned 0.06% of Cintas worth $27,973,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Trust N.A. raised its stake in shares of Cintas by 10.6% during the first quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock worth $314,000 after buying an additional 71 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Cintas by 16.8% during the 1st quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock valued at $7,505,000 after acquiring an additional 2,541 shares during the last quarter. Covestor Ltd lifted its stake in shares of Cintas by 84.7% in the 1st quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock valued at $139,000 after purchasing an additional 150 shares during the period. Mackenzie Financial Corp boosted its position in shares of Cintas by 9.3% in the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock worth $3,009,000 after purchasing an additional 604 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Cintas by 19.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock worth $10,410,000 after purchasing an additional 4,037 shares during the period. Institutional investors own 62.26% of the company’s stock.

Cintas Stock Up 0.3 %

Shares of CTAS traded up $1.54 during mid-day trading on Tuesday, hitting $552.38. 22,534 shares of the company’s stock were exchanged, compared to its average volume of 368,806. The company has a 50-day simple moving average of $510.55 and a 200 day simple moving average of $495.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.56 and a quick ratio of 2.13. The company has a market cap of $56.26 billion, a PE ratio of 41.45, a P/E/G ratio of 3.22 and a beta of 1.29. Cintas Co. has a 52 week low of $423.06 and a 52 week high of $557.08.

Cintas (NASDAQ:CTAS) last released its earnings results on Tuesday, September 26th. The business services provider reported $3.70 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.03. Cintas had a net margin of 15.36% and a return on equity of 36.82%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the firm earned $3.39 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Cintas Co. will post 14.35 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $5.40 annualized dividend and a yield of 0.98%. Cintas’s dividend payout ratio (DPR) is presently 40.63%.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Bank of America cut their target price on Cintas from $580.00 to $565.00 in a research note on Wednesday, September 27th. Truist Financial started coverage on shares of Cintas in a report on Monday, November 13th. They set a “buy” rating and a $625.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Cintas from $521.00 to $526.00 and gave the company a “hold” rating in a research note on Wednesday, September 27th. Citigroup reduced their price target on shares of Cintas from $550.00 to $530.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $525.00 price objective on shares of Cintas in a research report on Wednesday, September 27th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $534.40.

Insider Buying and Selling at Cintas

In other news, Director Melanie W. Barstad sold 1,968 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $514.17, for a total transaction of $1,011,886.56. Following the sale, the director now owns 6,250 shares in the company, valued at approximately $3,213,562.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 15.10% of the company’s stock.

About Cintas

Cintas Corporation provides 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.