Canada Pension Plan Investment Board Acquires 17,000 Shares of Cintas Co. (NASDAQ:CTAS)

Canada Pension Plan Investment Board increased its holdings in Cintas Co. (NASDAQ:CTASFree Report) by 100.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,950 shares of the business services provider’s stock after acquiring an additional 17,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Cintas were worth $16,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Raymond James Trust N.A. boosted its holdings in Cintas by 10.6% in the first quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock worth $314,000 after acquiring an additional 71 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Cintas by 16.8% in the 1st quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock worth $7,505,000 after purchasing an additional 2,541 shares in the last quarter. Covestor Ltd boosted its stake in Cintas by 84.7% in the 1st quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock worth $139,000 after purchasing an additional 150 shares in the last quarter. Mackenzie Financial Corp grew its position in Cintas by 9.3% during the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock valued at $3,009,000 after purchasing an additional 604 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Cintas by 19.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock valued at $10,410,000 after purchasing an additional 4,037 shares in the last quarter. 62.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTAS. Royal Bank of Canada upped their target price on shares of Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a research note on Friday, December 22nd. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Deutsche Bank Aktiengesellschaft cut Cintas from a “buy” rating to a “hold” rating and boosted their price target for the stock from $551.00 to $590.00 in a research note on Friday, December 8th. Truist Financial increased their price objective on Cintas from $645.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus boosted their target price on Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $560.57.

Read Our Latest Research Report on Cintas

Cintas Stock Up 0.2 %

Shares of CTAS stock opened at $618.22 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.62. Cintas Co. has a 12 month low of $425.00 and a 12 month high of $626.18. The stock has a market cap of $62.67 billion, a P/E ratio of 44.86, a P/E/G ratio of 3.58 and a beta of 1.28. The company has a 50 day simple moving average of $588.57 and a two-hundred day simple moving average of $537.28.

Cintas (NASDAQ:CTASGet Free Report) last posted its quarterly earnings data on Thursday, December 21st. The business services provider reported $3.61 EPS for the quarter, topping the consensus estimate of $3.49 by $0.12. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.34 billion. Cintas had a return on equity of 36.78% and a net margin of 15.57%. Cintas’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 EPS. On average, research analysts expect that Cintas Co. will post 14.57 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 15th will be given a dividend of $1.35 per share. The ex-dividend date is Wednesday, February 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.87%. Cintas’s payout ratio is currently 39.19%.

Insider Activity at Cintas

In other news, CFO J. Michael Hansen sold 9,774 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $596.91, for a total value of $5,834,198.34. Following the completion of the sale, the chief financial officer now directly owns 37,732 shares of the company’s stock, valued at $22,522,608.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.90% of the stock is currently owned by corporate insiders.

Cintas Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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