Cintas Corporation $CTAS Shares Bought by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. increased its stake in Cintas Corporation (NASDAQ:CTAS) by 42.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,133 shares of the business services provider’s stock after purchasing an additional 2,996 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Cintas were worth $2,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CTAS. Stone House Investment Management LLC acquired a new stake in Cintas during the 1st quarter valued at approximately $41,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Cintas by 646.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 181 shares during the period. Washington Trust Advisors Inc. acquired a new stake in Cintas during the 1st quarter valued at approximately $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in Cintas during the 1st quarter valued at approximately $46,000. Finally, Wellington Shields & Co. LLC acquired a new stake in Cintas during the 1st quarter valued at approximately $51,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cintas news, Director Martin Mucci bought 1,200 shares of the company’s stock in a transaction dated Monday, July 21st. The stock was acquired at an average price of $222.55 per share, with a total value of $267,060.00. Following the completion of the acquisition, the director directly owned 2,621 shares of the company’s stock, valued at $583,303.55. This represents a 84.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the sale, the director directly owned 21,945 shares of the company’s stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CTAS has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated a “sector perform” rating and set a $240.00 price objective (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. UBS Group lifted their price objective on shares of Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a research note on Monday, July 14th. They issued an “overweight” rating and a $239.00 target price for the company. Finally, Redburn Atlantic downgraded shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target on the stock. in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $224.54.

Cintas Stock Performance

NASDAQ:CTAS opened at $214.28 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The company has a fifty day moving average of $220.65 and a two-hundred day moving average of $212.30. The stock has a market capitalization of $86.35 billion, a PE ratio of 48.59, a P/E/G ratio of 3.73 and a beta of 1.03. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.99 earnings per share. As a group, research analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.45 per share. This is a boost from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Cintas’s dividend payout ratio (DPR) is currently 40.82%.

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.