Cintas Co. (NASDAQ:CTAS) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,314 shares of the business services provider’s stock after purchasing an additional 9,314 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of Cintas worth $57,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC raised its holdings in Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after purchasing an additional 14 shares in the last quarter. Field & Main Bank raised its holdings in Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Drive Wealth Management LLC raised its holdings in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares in the last quarter. Finally, TIAA Trust National Association increased its holdings in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Buying and Selling

In related news, Director Gerald S. Adolph sold 4,400 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTAS shares. Truist Financial lifted their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. The Goldman Sachs Group lifted their target price on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Barclays lifted their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $205.30 on Thursday. The firm has a market capitalization of $20.83 billion, a P/E ratio of 14.18, a PEG ratio of 4.09 and a beta of 1.32. Cintas Co. has a one year low of $119.73 and a one year high of $211.57. The company’s fifty day moving average is $209.77 and its two-hundred day moving average is $185.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 EPS. Analysts forecast that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio is presently 10.77%.

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.