Public Sector Pension Investment Board Has $9.06 Million Position in Cintas Corporation (NASDAQ:CTAS)

Key Points

• The Public Sector Pension Investment Board increased its stake in Cintas Corporation (NASDAQ:CTAS) by 9.5%, acquiring an additional 3,833 shares, bringing its total holdings to 44,095 shares worth approximately $9,063,000.
• Cintas recently reported $1.09 EPS for the quarter, exceeding analyst estimates by $0.02, and had a revenue increase of 8.0% year-over-year to $2.67 billion.
• The company announced a quarterly dividend increase to $0.45 per share, resulting in an annualized dividend of $1.80 and a yield of 0.8%.

Public Sector Pension Investment Board grew its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,095 shares of the business services provider's stock after purchasing an additional 3,833 shares during the period. Public Sector Pension Investment Board's holdings in Cintas were worth $9,063,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after purchasing an additional 181 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Cintas in the first quarter valued at approximately $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cintas in the first quarter valued at approximately $46,000. Wellington Shields & Co. LLC acquired a new position in Cintas during the first quarter worth $51,000. Finally, Olde Wealth Management LLC acquired a new position in Cintas during the first quarter worth $55,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the transaction, the chief executive officer owned 622,712 shares of the company's stock, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the transaction, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. This represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

Cintas Price Performance

CTAS stock traded down $4.81 during midday trading on Friday, reaching $216.55. The company had a trading volume of 1,398,396 shares, compared to its average volume of 1,365,709. The company has a market capitalization of $87.27 billion, a price-to-earnings ratio of 49.10, a price-to-earnings-growth ratio of 3.73 and a beta of 1.03. The stock has a 50 day moving average price of $220.86 and a 200-day moving average price of $212.13. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 earnings per share. Equities research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.8%. Cintas's payout ratio is presently 35.37%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They set an "overweight" rating and a $239.00 target price on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 target price (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Robert W. Baird boosted their target price on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, five 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 presently has a consensus rating of "Hold" and an average target price of $224.54.

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.