National Bank of Canada FI Increases Position in Cintas Co. (NASDAQ:CTAS)

National Bank of Canada FI increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 70.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 455,565 shares of the business services provider’s stock after buying an additional 188,745 shares during the period. National Bank of Canada FI owned about 0.11% of Cintas worth $83,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in shares of Cintas during the 4th quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in Cintas during the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas in the fourth quarter valued at about $31,000. IAG Wealth Partners LLC grew its position in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas during the 4th quarter worth approximately $34,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CTAS shares. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. The Goldman Sachs Group increased their price objective on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Morgan Stanley raised their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas 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 five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $210.58.

Cintas Price Performance

CTAS opened at $207.87 on Wednesday. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12. The company has a 50 day moving average of $201.29 and a two-hundred day moving average of $204.61. The company has a market cap of $83.88 billion, a P/E ratio of 50.12, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share 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 firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the company earned $3.84 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. On average, analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s payout ratio is currently 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.