Strs Ohio Has $19.85 Million Stock Holdings in Cintas Corporation $CTAS

Key Points

• Strs Ohio reduced its Cintas stake by 8.2% in the first quarter, selling 10,542 shares and ending with 117,337 shares valued at about $19.85 million.
• Wall Street sentiment on Cintas is mixed, with analysts issuing one Strong Buy, five Buy, seven Hold, and one Sell rating; the consensus price target is $211.25.
• Insider selling and recent dividend details were also noted: Director Ronald W. Tysoe sold 4,666 shares, and Cintas paid a quarterly dividend of $0.45 per share, or $1.80 annualized.

Strs Ohio trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,337 shares of the business services provider's stock after selling 10,542 shares during the period. Strs Ohio's holdings in Cintas were worth $19,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Keybank National Association OH increased its position in Cintas by 1.0% in the 1st quarter. Keybank National Association OH now owns 34,257 shares of the business services provider's stock worth $5,794,000 after purchasing an additional 348 shares during the last quarter. KPP Advisory Services LLC grew its stake in shares of Cintas by 10.6% in the 1st quarter. KPP Advisory Services LLC now owns 3,586 shares of the business services provider's stock valued at $607,000 after buying an additional 345 shares in the last quarter. Capital Asset Advisory Services LLC grew its stake in shares of Cintas by 17.6% in the 1st quarter. Capital Asset Advisory Services LLC now owns 22,147 shares of the business services provider's stock valued at $3,957,000 after buying an additional 3,315 shares in the last quarter. USS Investment Management Ltd increased its holdings in Cintas by 6.0% in the first quarter. USS Investment Management Ltd now owns 62,889 shares of the business services provider's stock worth $10,635,000 after buying an additional 3,557 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in Cintas by 3.0% during the first quarter. IFM Investors Pty Ltd now owns 73,611 shares of the business services provider's stock valued at $12,451,000 after acquiring an additional 2,130 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on CTAS shares. Citigroup decreased their target price on shares of Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research report on Tuesday, March 31st. Truist Financial reduced their price objective on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Monday, June 15th. Robert W. Baird upgraded shares of Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Weiss Ratings downgraded shares of Cintas from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. Finally, Bank of America reduced their price target on Cintas from $215.00 to $200.00 and set a "neutral" rating for the company in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cintas has an average rating of "Hold" and a consensus price target of $211.25.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 14.90% of the company's stock.

Cintas Stock Performance

Shares of CTAS stock opened at $181.37 on Friday. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The company has a market cap of $72.56 billion, a PE ratio of 51.23, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $172.75 and its two-hundred day moving average is $182.99.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas's dividend payout ratio is currently 50.85%.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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