Cintas Co. (NASDAQ:CTAS) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 166,996 shares of the business services provider’s stock after selling 10,036 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cintas were worth $30,510,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Sound Income Strategies LLC acquired a new stake in Cintas during the fourth quarter valued at approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the 4th quarter valued at approximately $29,000. IAG Wealth Partners LLC raised its position in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Cintas during the fourth quarter worth $34,000. Finally, Meeder Asset Management Inc. boosted its holdings in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after purchasing an additional 134 shares during the period. Institutional investors own 63.46% of the company’s stock.

Insider Activity

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTAS. Bank of America began coverage on shares of Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 target price for the company. Morgan Stanley boosted their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday, March 27th. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. Finally, Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $213.88.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $222.29 on Friday. The firm’s 50 day moving average is $207.45 and its two-hundred day moving average is $205.25. The firm has a market capitalization of $89.76 billion, a P/E ratio of 53.60, a PEG ratio of 3.98 and a beta of 1.09. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52 week low of $164.93 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the company posted $3.84 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts anticipate 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. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas’s payout ratio is 36.11%.

Cintas Company 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.