iA Global Asset Management Inc. Boosts Stock Holdings in Cintas Corporation $CTAS

iA Global Asset Management Inc. raised its position in shares of Cintas Corporation (NASDAQ:CTAS) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,424 shares of the business services provider’s stock after purchasing an additional 3,460 shares during the period. iA Global Asset Management Inc.’s holdings in Cintas were worth $9,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in Cintas in the 4th quarter worth about $25,000. First United Bank & Trust purchased a new stake in Cintas during the first quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in Cintas during the fourth quarter valued at about $25,000. Camelot Portfolios LLC bought a new position in Cintas during the fourth quarter worth about $26,000. Finally, Kemnay Advisory Services Inc. bought a new position in Cintas during the fourth quarter worth about $26,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTAS. Stifel Nicolaus lowered their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Bank of America cut their price objective on shares of Cintas from $215.00 to $200.00 and set a “neutral” rating for the company in a report on Monday. Weiss Ratings lowered shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, UBS Group reissued a “buy” rating on shares of Cintas in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $211.25.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $174.23 on Thursday. The company has a 50 day moving average of $172.51 and a 200 day moving average of $183.05. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a market cap of $69.71 billion, a P/E ratio of 49.22, a P/E/G ratio of 2.71 and a beta of 0.94. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given 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 was Friday, May 15th. Cintas’s payout ratio is 50.85%.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 14.90% of the stock is owned by company insiders.

Cintas 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.