Healthcare of Ontario Pension Plan Trust Fund Purchases 292,310 Shares of Cintas Co. (NASDAQ:CTAS)

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 355.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 374,624 shares of the business services provider’s stock after acquiring an additional 292,310 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Cintas worth $77,128,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. LGT Financial Advisors LLC raised its stake in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Financial Management Professionals Inc. raised its stake in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Hollencrest Capital Management increased its stake in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Cintas during the 2nd quarter valued at approximately $27,000. Finally, Addison Advisors LLC increased its stake in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTAS. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. UBS Group upped their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Truist Financial upped their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 1.1 %

CTAS stock opened at $226.47 on Wednesday. The firm’s fifty day simple moving average is $211.47 and its 200-day simple moving average is $198.14. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $228.12. The company has a market capitalization of $91.34 billion, a P/E ratio of 57.19, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.