Public Employees Retirement System of Ohio Purchases 135,289 Shares of Cintas Co. (NASDAQ:CTAS)

Public Employees Retirement System of Ohio grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 324.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 177,032 shares of the business services provider’s stock after buying an additional 135,289 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cintas were worth $36,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the last quarter. FMR LLC grew its stake in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Cintas by 211.1% in the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in Cintas by 293.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after purchasing an additional 1,419,975 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CTAS shares. Truist Financial upped their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group raised their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 6.9 %

Cintas stock opened at $208.30 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a 50-day simple moving average of $214.62 and a 200 day simple moving average of $201.21. The stock has a market capitalization of $84.01 billion, a P/E ratio of 52.60, a PEG ratio of 4.41 and a beta of 1.34. Cintas Co. has a 52 week low of $138.39 and a 52 week high of $228.12.

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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $3.70 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

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.