Ossiam Buys 179,415 Shares of Cintas Co. (NASDAQ:CTAS)

Ossiam raised its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 2,920.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,559 shares of the business services provider's stock after acquiring an additional 179,415 shares during the quarter. Ossiam's holdings in Cintas were worth $33,902,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Cintas by 43.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 151,273 shares of the business services provider's stock valued at $27,638,000 after purchasing an additional 46,175 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cintas by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,624,396 shares of the business services provider's stock valued at $296,791,000 after purchasing an additional 27,320 shares during the last quarter. Freedom Investment Management Inc. raised its position in shares of Cintas by 23.6% in the fourth quarter. Freedom Investment Management Inc. now owns 6,806 shares of the business services provider's stock valued at $1,243,000 after purchasing an additional 1,298 shares during the period. Broadleaf Partners LLC lifted its stake in shares of Cintas by 77.3% in the fourth quarter. Broadleaf Partners LLC now owns 30,320 shares of the business services provider's stock worth $5,539,000 after buying an additional 13,222 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Cintas by 66.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 22,048 shares of the business services provider's stock worth $4,028,000 after buying an additional 8,827 shares during the period. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CTAS shares. Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Argus upgraded Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Finally, Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cintas presently has an average rating of "Hold" and a consensus target price of $213.62.

Cintas Stock Performance

Cintas stock traded up $1.35 on Thursday, hitting $209.04. The company's stock had a trading volume of 570,150 shares, compared to its average volume of 1,696,491. The company has a fifty day moving average price of $201.40 and a 200-day moving average price of $204.32. The firm has a market cap of $84.41 billion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. Cintas Co. has a one year low of $162.16 and a one year high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm 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 prior year, the business posted $3.84 earnings per share. On average, equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

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

Insider Buying and Selling at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction on 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 owns 256,528 shares in the company, valued at approximately $48,835,235.36. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the sale, 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 disclosure for this sale can be found here. Company 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.