Ilmarinen Mutual Pension Insurance Co Acquires 17,500 Shares of Cintas Co. (NASDAQ:CTAS)

Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 27.9% in the fourth quarter, HoldingsChannel reports. The firm owned 80,300 shares of the business services provider’s stock after purchasing an additional 17,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Cintas were worth $14,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. State Street Corp boosted its holdings in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares during the period. Geode Capital Management LLC lifted its position in 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 acquiring an additional 219,809 shares during the last quarter. Norges Bank bought a new stake in shares of Cintas during the fourth quarter worth approximately $877,216,000. Franklin Resources Inc. grew its position in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CTAS shares. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. UBS Group lifted their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird increased their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $210.58.

Cintas Stock Down 7.1 %

Shares of CTAS opened at $190.33 on Friday. The firm has a 50 day simple moving average of $201.48 and a two-hundred day simple moving average of $204.54. The company has a market cap of $76.81 billion, a P/E ratio of 45.89, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas Co. has a one year low of $162.16 and a one year high of $228.12. 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 (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the company earned $3.84 EPS. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

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.