TD Waterhouse Canada Inc. Grows Position in Cintas Corporation $CTAS

TD Waterhouse Canada Inc. raised its position in shares of Cintas Corporation (NASDAQ:CTAS) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,840 shares of the business services provider’s stock after buying an additional 3,848 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Cintas were worth $3,543,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTAS. Brighton Jones LLC grew its holdings in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after buying an additional 108 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Cintas in the 2nd quarter valued at approximately $625,000. Treasurer of the State of North Carolina lifted its stake in shares of Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after purchasing an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after purchasing an additional 31,068 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Argus raised Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Bank of America assumed coverage on Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective for the company. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. Finally, Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $215.17.

Insider Activity

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Cintas Price Performance

Shares of CTAS stock opened at $174.66 on Thursday. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a market capitalization of $69.88 billion, a P/E ratio of 49.34, a P/E/G ratio of 3.10 and a beta of 1.01. The stock has a 50 day moving average price of $186.03 and a 200 day moving average price of $188.01.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company earned $1.13 EPS. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Cintas Company 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.