Great West Life Assurance Co. Can Sells 8,096 Shares of Cintas Co. (CTAS)
Great West Life Assurance Co. Can lowered its stake in Cintas Co. (NASDAQ:CTAS) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,590 shares of the business services provider’s stock after selling 8,096 shares during the period. Great West Life Assurance Co. Can’s holdings in Cintas were worth $11,597,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Cintas by 0.8% in the third quarter. BlackRock Inc. now owns 5,780,091 shares of the business services provider’s stock valued at $1,143,358,000 after purchasing an additional 47,624 shares during the period. FMR LLC boosted its stake in shares of Cintas by 15.9% in the second quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock valued at $464,114,000 after buying an additional 344,359 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Cintas by 10.5% in the second quarter. Brown Advisory Inc. now owns 1,599,614 shares of the business services provider’s stock valued at $296,040,000 after buying an additional 151,458 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Cintas by 0.9% in the third quarter. Bessemer Group Inc. now owns 1,308,293 shares of the business services provider’s stock valued at $258,793,000 after buying an additional 11,196 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Cintas by 8.7% in the third quarter. Frontier Capital Management Co. LLC now owns 919,194 shares of the business services provider’s stock valued at $181,826,000 after buying an additional 73,594 shares in the last quarter. 66.37% of the stock is currently owned by institutional investors and hedge funds.
CTAS opened at $177.83 on Friday. The company has a current ratio of 3.10, a quick ratio of 2.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.06 and a beta of 1.03. Cintas Co. has a one year low of $147.38 and a one year high of $217.34.
The company also recently announced an annual dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a dividend of $2.05 per share. This represents a yield of 1.13%. This is an increase from Cintas’s previous annual dividend of $1.62. The ex-dividend date of this dividend is Thursday, November 8th. Cintas’s payout ratio is presently 34.51%.
CTAS has been the topic of a number of analyst reports. Zacks Investment Research downgraded Cintas from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Barclays lifted their price target on Cintas from $210.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, September 26th. Morgan Stanley restated a “sell” rating and issued a $178.00 price target (up from $164.00) on shares of Cintas in a research note on Thursday, September 13th. Robert W. Baird set a $235.00 price target on Cintas and gave the company a “buy” rating in a research note on Wednesday, September 26th. Finally, Bank of America initiated coverage on Cintas in a research note on Tuesday, October 23rd. They issued a “neutral” rating and a $200.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $202.17.
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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