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

Ontario Teachers Pension Plan Board raised its stake in Cintas Co. (NASDAQ:CTAS) by 726.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,176 shares of the business services provider’s stock after acquiring an additional 4,550 shares during the quarter. 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 large investors have also recently bought and sold shares of CTAS. Checchi Capital Advisers LLC grew its position in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares in the last quarter. Field & Main Bank boosted its position in shares of Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after acquiring an additional 15 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association boosted its position in Cintas by 1.2% in the second 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 in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

Cintas stock opened at $218.75 on Thursday. The firm’s 50 day simple moving average is $210.05 and its 200 day simple moving average is $196.56. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $88.22 billion, a PE ratio of 55.24, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. Cintas Co. has a 1-year low of $136.87 and a 1-year high of $227.35.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.70 EPS. As a group, analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid 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 yield of 0.71%. Cintas’s dividend payout ratio is presently 39.39%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Truist Financial lifted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. UBS Group raised their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

About Cintas

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.