USS Investment Management Ltd Buys 3,557 Shares of Cintas Corporation $CTAS

USS Investment Management Ltd grew its position in shares of Cintas Corporation (NASDAQ:CTAS) by 6.0% in the first quarter, HoldingsChannel reports. The firm owned 62,889 shares of the business services provider’s stock after buying an additional 3,557 shares during the quarter. USS Investment Management Ltd’s holdings in Cintas were worth $10,635,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Nemes Rush Group LLC bought a new position in Cintas during the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in shares of Cintas during the 4th quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Cintas in the 4th quarter valued at about $26,000. Triumph Capital Management bought a new position in shares of Cintas in the 3rd quarter valued at about $29,000. Finally, Camelot Portfolios LLC purchased a new position in Cintas in the fourth quarter worth about $26,000. 63.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.90% of the stock is owned by corporate insiders.

Cintas Stock Performance

CTAS stock opened at $174.23 on Thursday. 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 fifty day simple moving average is $172.51 and its two-hundred day simple moving average is $183.05. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 2.71 and a beta of 0.94.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 50.85%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CTAS shares. Bank of America reduced their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. Citigroup cut their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Finally, Truist Financial decreased their price target on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $211.25.

Cintas Profile

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.