Ontario Teachers Pension Plan Board Acquires 4,550 Shares of Cintas Co. (NASDAQ:CTAS)

Ontario Teachers Pension Plan Board raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 726.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,176 shares of the business services provider’s stock after acquiring an additional 4,550 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Cintas were worth $1,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its holdings in shares of Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after buying an additional 14 shares during the period. Axxcess Wealth Management LLC grew its holdings in shares of Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after buying an additional 14 shares during the period. Field & Main Bank grew its holdings in shares of Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after buying an additional 15 shares during the period. Drive Wealth Management LLC grew its holdings in shares of Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after buying an additional 16 shares during the period. Finally, TIAA Trust National Association grew its holdings in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of several research analyst reports. Robert W. Baird boosted their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Up 0.4 %

Shares of CTAS stock opened at $218.75 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm’s 50-day moving average is $210.05 and its 200-day moving average is $196.56. The stock has a market cap of $88.22 billion, a price-to-earnings ratio of 55.24, a PEG ratio of 4.24 and a beta of 1.32. Cintas Co. has a 52-week low of $136.87 and a 52-week high of $227.35.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.70 EPS. Sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas’s payout ratio is 39.39%.

Cintas Company Profile

Cintas Corporation engages in the provision of 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.