Ontario Teachers Pension Plan Board Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Ontario Teachers Pension Plan Board increased its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 726.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in Cintas by 346.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,048 shares of the business services provider's stock valued at $216,000 after buying an additional 813 shares during the period. Advisors Asset Management Inc. grew its position in shares of Cintas by 372.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 23,392 shares of the business services provider's stock worth $4,816,000 after buying an additional 18,440 shares during the last quarter. Commerce Bank increased its stake in shares of Cintas by 279.0% during the third quarter. Commerce Bank now owns 49,432 shares of the business services provider's stock valued at $10,177,000 after buying an additional 36,388 shares during the period. Strategy Asset Managers LLC raised its holdings in shares of Cintas by 219.1% during the third quarter. Strategy Asset Managers LLC now owns 2,020 shares of the business services provider's stock valued at $416,000 after acquiring an additional 1,387 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in Cintas in the third quarter valued at $210,000. Institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

Shares of CTAS traded up $1.49 during mid-day trading on Thursday, hitting $220.24. 160,908 shares of the company traded hands, compared to its average volume of 1,442,547. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $227.35. 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 stock has a 50-day moving average price of $210.05 and a two-hundred day moving average price of $196.56. The stock has a market cap of $88.82 billion, a price-to-earnings ratio of 55.24, a P/E/G ratio of 4.29 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business posted $3.70 EPS. The company's revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas's dividend payout ratio (DPR) is 39.39%.

Wall Street Analyst Weigh In

CTAS has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research report on Thursday, September 26th. UBS Group lifted their price target on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Robert W. Baird raised their price objective on Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Finally, Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $199.63.

Cintas 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.