Ontario Teachers Pension Plan Board Has $3.14 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Ontario Teachers Pension Plan Board lifted its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 232.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,191 shares of the business services provider's stock after purchasing an additional 12,015 shares during the period. Ontario Teachers Pension Plan Board's holdings in Cintas were worth $3,141,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of Cintas by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after buying an additional 219,809 shares during the period. Invesco Ltd. grew its stake in shares of Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after purchasing an additional 296,059 shares during the period. Norges Bank acquired a new position in shares of Cintas in the 4th quarter worth approximately $877,216,000. Franklin Resources Inc. lifted its position in shares of Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $213.62.

Cintas Trading Up 0.5 %

Shares of CTAS stock traded up $1.04 during trading hours on Friday, reaching $205.76. The company had a trading volume of 1,712,106 shares, compared to its average volume of 1,699,841. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The firm has a market cap of $83.08 billion, a price-to-earnings ratio of 49.61, a P/E/G ratio of 3.98 and a beta of 1.20. The company has a 50 day moving average of $201.41 and a 200 day moving average of $204.31.

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

Cintas Dividend Announcement

The firm 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 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, May 15th. Cintas's payout ratio is presently 36.11%.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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.