Ilmarinen Mutual Pension Insurance Co Has $14.67 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Ilmarinen Mutual Pension Insurance Co increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,300 shares of the business services provider’s stock after purchasing an additional 17,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Cintas were worth $14,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after acquiring an additional 1,450 shares during the period. KMG Fiduciary Partners LLC raised its holdings in Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP grew its holdings in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after buying an additional 529,005 shares during the period. JPMorgan Chase & Co. raised its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in Cintas by 1.6% during the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after acquiring an additional 1,988 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company increased their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Thursday, March 27th. Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $210.58.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $190.33 on Friday. The stock has a market capitalization of $76.81 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The stock has a 50 day moving average price of $201.48 and a 200 day moving average price of $204.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.84 EPS. Analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. Cintas’s dividend payout ratio is presently 36.11%.

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.