Great West Life Assurance Co. Can boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 14.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,342 shares of the business services provider’s stock after purchasing an additional 12,981 shares during the quarter. Great West Life Assurance Co. Can owned about 0.10% of Cintas worth $51,586,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Cintas by 3.7% during the first quarter. BlackRock Inc. now owns 7,944,495 shares of the business services provider’s stock valued at $3,675,759,000 after purchasing an additional 283,872 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cintas by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock valued at $863,795,000 after buying an additional 41,237 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Cintas by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,419,068 shares of the business services provider’s stock worth $656,575,000 after acquiring an additional 115,712 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Cintas by 21.4% during the 1st quarter. Impax Asset Management Group plc now owns 1,247,840 shares of the business services provider’s stock worth $576,464,000 after acquiring an additional 220,333 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Cintas by 5.2% during the 1st quarter. Royal Bank of Canada now owns 1,163,413 shares of the business services provider’s stock valued at $494,904,000 after acquiring an additional 57,674 shares during the last quarter. 62.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on CTAS shares. Bank of America reduced their target price on shares of Cintas from $580.00 to $565.00 in a report on Wednesday, September 27th. Stifel Nicolaus upped their price objective on Cintas from $521.00 to $526.00 and gave the company a “hold” rating in a research report on Wednesday, September 27th. The Goldman Sachs Group upgraded Cintas from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 2nd. Truist Financial assumed coverage on Cintas in a research report on Monday, November 13th. They issued a “buy” rating and a $625.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $525.00 target price on shares of Cintas in a research note on Wednesday, September 27th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $534.40.
Cintas Price Performance
Shares of CTAS stock opened at $550.84 on Tuesday. The company has a market capitalization of $56.10 billion, a P/E ratio of 41.45, a P/E/G ratio of 3.22 and a beta of 1.29. The company’s 50-day simple moving average is $510.55 and its two-hundred day simple moving average is $495.95. Cintas Co. has a one year low of $423.06 and a one year high of $557.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.56 and a quick ratio of 2.13.
Cintas (NASDAQ:CTAS – Get Free Report) last announced its quarterly earnings data on Tuesday, September 26th. The business services provider reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.03. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Cintas had a return on equity of 36.82% and a net margin of 15.36%. Cintas’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.39 earnings per share. As a group, equities analysts anticipate that Cintas Co. will post 14.35 EPS for the current year.
Cintas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.98%. Cintas’s dividend payout ratio is currently 40.63%.
Insider Transactions at Cintas
In related news, Director Melanie W. Barstad sold 1,968 shares of Cintas stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $514.17, for a total transaction of $1,011,886.56. Following the transaction, the director now directly owns 6,250 shares of the company’s stock, valued at $3,213,562.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 15.10% of the company’s stock.
Cintas Company Profile
Cintas Corporation provides 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.
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