Illinois Municipal Retirement Fund Acquires 4,225 Shares of Cintas Corporation (NASDAQ:CTAS)

Illinois Municipal Retirement Fund grew its holdings in Cintas Corporation (NASDAQ:CTAS) by 4.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 93,917 shares of the business services provider’s stock after purchasing an additional 4,225 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cintas were worth $19,303,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new stake in Cintas in the fourth quarter valued at about $29,000. IAG Wealth Partners LLC lifted its holdings 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 worth $33,000 after acquiring an additional 104 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 134 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Cintas during the 4th quarter valued at approximately $37,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Cintas during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS opened at $220.44 on Friday. The business has a 50-day moving average of $218.34 and a 200-day moving average of $205.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The company has a market capitalization of $89.01 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. Cintas Corporation has a 1 year low of $172.20 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the business earned $3.84 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas’s dividend payout ratio is presently 36.11%.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares of the company’s stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTAS. Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective for the company. The Goldman Sachs Group increased their price target on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. UBS Group boosted their price objective on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, Redburn Atlantic downgraded Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average target price of $215.81.

Cintas 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.