Public Employees Retirement System of Ohio bought a new position in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 148,047 shares of the business services provider’s stock, valued at approximately $25,180,000.
Several other institutional investors also recently bought and sold shares of CTAS. Nemes Rush Group LLC purchased a new position in shares of Cintas in the 4th quarter valued at $25,000. First United Bank & Trust purchased a new stake in Cintas during the 1st quarter worth $25,000. Whipplewood Advisors LLC increased its holdings in Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Swiss RE Ltd. acquired a new stake in Cintas in the 4th quarter valued at $25,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Cintas in the fourth quarter valued at about $26,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.
Cintas Stock Up 0.0%
Shares of NASDAQ CTAS opened at $204.18 on Friday. The firm has a market cap of $81.71 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.30 and a beta of 0.92. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. The stock’s 50-day simple moving average is $194.43 and its 200-day simple moving average is $185.51.
Cintas Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 1.0%. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is 55.61%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on CTAS. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Truist Financial dropped their target price on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Robert W. Baird boosted their price target on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.
Read Our Latest Research Report on CTAS
About Cintas
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
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