National Pension Service Boosts Position in Cintas Corporation (NASDAQ:CTAS)

Key Points

• The National Pension Service increased its stake in Cintas Corporation by 10.3% in the first quarter, acquiring an additional 97,671 shares for a total of over $214 million in holdings.
• Cintas has raised its quarterly dividend from $0.39 to $0.45, which represents an annualized yield of 0.8% and a dividend payout ratio of 35.37%.
• Recent analyst reports have mixed reviews on Cintas, with price targets ranging from $171 to $255, reflecting varying levels of confidence in the stock's performance.

National Pension Service raised its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,042,301 shares of the business services provider's stock after purchasing an additional 97,671 shares during the period. National Pension Service owned approximately 0.26% of Cintas worth $214,224,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Cintas by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock valued at $7,781,223,000 after purchasing an additional 491,307 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Cintas in the first quarter worth about $1,877,760,000. Northern Trust Corp grew its position in Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after acquiring an additional 472,069 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after purchasing an additional 115,268 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cintas by 11.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,818,147 shares of the business services provider's stock valued at $514,875,000 after buying an additional 295,226 shares during the period. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

In other news, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares of the company's stock, valued at $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were purchased at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the acquisition, the director owned 2,621 shares of the company's stock, valued at $583,303.55. The trade was a 84.45% increase in their position. The disclosure for this purchase can be found here. 15.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Robert W. Baird increased their target price on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $240.00 target price (up from $215.00) on shares of Cintas in a research report on Monday, June 9th. Morgan Stanley raised their price target on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, UBS Group lifted their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $224.54.

Cintas Stock Performance

CTAS traded down $4.81 on Friday, hitting $216.55. 1,398,396 shares of the stock traded hands, compared to its average volume of 1,365,709. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average price of $220.86 and a two-hundred day moving average price of $212.13. The firm has a market capitalization of $87.27 billion, a PE ratio of 49.10, a P/E/G ratio of 3.73 and a beta of 1.03. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the company earned $3.99 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid 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 of this dividend is Friday, August 15th. Cintas's payout ratio is 35.37%.

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.