Bank of Nova Scotia lessened its stake in shares of Cintas Co. (NASDAQ:CTAS) by 60.7% during the 2nd quarter, Holdings Channel reports. The firm owned 9,486 shares of the business services provider’s stock after selling 14,658 shares during the quarter. Bank of Nova Scotia’s holdings in Cintas were worth $1,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc boosted its position in shares of Cintas by 123.6% in the second quarter. Morse Asset Management Inc now owns 8,507 shares of the business services provider’s stock valued at $1,574,000 after acquiring an additional 4,702 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Cintas in the second quarter valued at approximately $277,000. Pittenger & Anderson Inc. boosted its position in shares of Cintas by 3.9% in the second quarter. Pittenger & Anderson Inc. now owns 18,919 shares of the business services provider’s stock valued at $3,501,000 after acquiring an additional 710 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Cintas by 105.2% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,375 shares of the business services provider’s stock valued at $254,000 after acquiring an additional 705 shares during the period. Finally, Select Equity Group L.P. boosted its position in shares of Cintas by 24.7% in the second quarter. Select Equity Group L.P. now owns 528,450 shares of the business services provider’s stock valued at $97,800,000 after acquiring an additional 104,725 shares during the period. Institutional investors own 68.70% of the company’s stock.

CTAS has been the subject of several research reports. Morgan Stanley increased their price objective on Cintas from $152.00 to $158.00 and gave the company a “$192.53” rating in a research report on Wednesday, July 18th. Robert W. Baird set a $235.00 price objective on Cintas and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research cut Cintas from a “hold” rating to a “sell” rating in a research report on Monday. Barclays increased their price objective on Cintas from $210.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus increased their price objective on Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Cintas presently has a consensus rating of “Buy” and a consensus price target of $195.00.

Shares of CTAS stock opened at $197.59 on Friday. The firm has a market capitalization of $23.15 billion, a P/E ratio of 33.26, a PEG ratio of 2.50 and a beta of 0.98. Cintas Co. has a one year low of $141.76 and a one year high of $217.34. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.55 and a quick ratio of 2.19.

Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 25th. The business services provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.80 by $0.13. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Cintas had a return on equity of 25.25% and a net margin of 12.72%. Cintas’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $1.45 earnings per share. sell-side analysts predict that Cintas Co. will post 7.09 earnings per share for the current fiscal year.

Cintas Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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