Ontario Teachers Pension Plan Board reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 72.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,965 shares of the business services provider’s stock after selling 5,151 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Cintas were worth $389,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its position in Cintas by 0.8% in the 3rd quarter. BlackRock Inc. now owns 5,780,091 shares of the business services provider’s stock valued at $1,143,358,000 after acquiring an additional 47,624 shares during the period. FMR LLC increased its position in Cintas by 15.9% in the 2nd quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock valued at $464,114,000 after acquiring an additional 344,359 shares during the period. Brown Advisory Inc. increased its position in Cintas by 10.5% in the 2nd quarter. Brown Advisory Inc. now owns 1,599,614 shares of the business services provider’s stock valued at $296,040,000 after acquiring an additional 151,458 shares during the period. Bessemer Group Inc. boosted its stake in shares of Cintas by 0.9% in the 3rd quarter. Bessemer Group Inc. now owns 1,308,293 shares of the business services provider’s stock valued at $258,793,000 after purchasing an additional 11,196 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Cintas by 8.7% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 919,194 shares of the business services provider’s stock valued at $181,826,000 after purchasing an additional 73,594 shares during the last quarter. Hedge funds and other institutional investors own 65.94% of the company’s stock.
CTAS has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Cintas from $178.00 to $183.00 and gave the company a “sell” rating in a research note on Wednesday, September 26th. Robert W. Baird set a $235.00 price objective on shares of Cintas and gave the company a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research lowered shares of Cintas from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Royal Bank of Canada initiated coverage on shares of Cintas in a research note on Monday, November 26th. They issued an “outperform” rating on the stock. Finally, Barclays upped their price objective on shares of Cintas from $210.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, September 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $202.17.
Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.13. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.68 billion. Cintas had a net margin of 12.72% and a return on equity of 24.13%. Cintas’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 earnings per share. Equities research analysts predict that Cintas Co. will post 7.24 earnings per share for the current fiscal year.
The business also recently announced an annual dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be paid a dividend of $2.05 per share. The ex-dividend date is Thursday, November 8th. This is a positive change from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. Cintas’s dividend payout ratio is currently 34.51%.
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Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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