Cintas Co. (NASDAQ:CTAS) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia increased its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 47.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,459 shares of the business services provider's stock after purchasing an additional 32,514 shares during the quarter. Bank of Nova Scotia's holdings in Cintas were worth $18,537,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Advisors LLC grew its holdings in shares of Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock valued at $318,000 after purchasing an additional 52 shares in the last quarter. MGB Wealth Management LLC grew its stake in shares of Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after buying an additional 52 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after buying an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC raised its position in shares of Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after buying an additional 52 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of Cintas by 2.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock valued at $512,000 after acquiring an additional 55 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent research reports. UBS Group upped their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They issued a "sell" rating and a $161.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Bank of America began coverage on shares of Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $213.62.

Cintas Stock Down 0.2 %

Shares of CTAS traded down $0.52 during midday trading on Tuesday, reaching $209.10. 453,379 shares of the stock were exchanged, compared to its average volume of 1,950,514. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $201.25 and its two-hundred day moving average is $204.28. The company has a market capitalization of $84.43 billion, a P/E ratio of 50.42, a PEG ratio of 3.98 and a beta of 1.20. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.84 EPS. On average, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is currently 36.11%.

Insider Activity at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.00% of the stock is owned by corporate insiders.

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.