2,000 Shares in Cintas Co. (NASDAQ:CTAS) Purchased by Investment Counsel Co. of Nevada

Investment Counsel Co. of Nevada purchased a new stake in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,000 shares of the business services provider’s stock, valued at approximately $365,000. Cintas comprises approximately 0.9% of Investment Counsel Co. of Nevada’s investment portfolio, making the stock its 17th largest holding.

Several other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock worth $1,544,822,000 after purchasing an additional 219,809 shares during the period. Invesco Ltd. increased its stake in Cintas by 6.1% in the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock valued at $935,146,000 after purchasing an additional 296,059 shares in the last quarter. Norges Bank acquired a new position in Cintas during the 4th quarter worth approximately $877,216,000. Franklin Resources Inc. boosted its holdings in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.00% of the company’s stock.

Cintas Trading Up 1.6 %

Shares of Cintas stock opened at $206.04 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The firm has a market cap of $83.20 billion, a PE ratio of 49.68, a PEG ratio of 3.98 and a beta of 1.20. The company has a 50 day simple moving average of $201.09 and a two-hundred day simple moving average of $204.23.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $3.84 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Morgan Stanley lifted their target price on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Truist Financial lifted their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, UBS Group raised their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average price target of $213.62.

Cintas 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.