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

Ontario Teachers Pension Plan Board boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 232.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,191 shares of the business services provider’s stock after purchasing an additional 12,015 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Cintas were worth $3,141,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CTAS. Sound Income Strategies LLC bought a new position in shares of Cintas in the 4th quarter worth $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Cintas in the fourth quarter valued at $29,000. Endeavor Private Wealth Inc. acquired a new position in shares of Cintas during the fourth quarter valued at about $31,000. IAG Wealth Partners LLC grew its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas during the fourth quarter worth about $34,000. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of a number of analyst reports. UBS Group lifted their price target on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Thursday, March 27th. The Goldman Sachs Group raised their price objective on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Truist Financial upped their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Morgan Stanley raised their price target on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $213.62.

Cintas Trading Up 1.7 %

NASDAQ:CTAS opened at $209.62 on Tuesday. 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 firm’s 50 day moving average is $201.25 and its 200 day moving average is $204.28. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12. The stock has a market capitalization of $84.64 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the firm earned $3.84 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

Insider Buying and Selling

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction 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 represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.00% of the stock is owned by insiders.

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.