Texas Permanent School Fund Trims Position in Cintas Co. (CTAS)

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Texas Permanent School Fund decreased its position in shares of Cintas Co. (NASDAQ:CTAS) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,325 shares of the business services provider’s stock after selling 1,770 shares during the period. Texas Permanent School Fund’s holdings in Cintas were worth $3,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Cintas by 15.9% during the second quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock valued at $464,114,000 after purchasing an additional 344,359 shares during the last quarter. Brown Advisory Inc. boosted its position in Cintas by 10.5% during 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 purchasing an additional 151,458 shares during the last quarter. Bessemer Group Inc. boosted its position in Cintas by 12.6% during the second quarter. Bessemer Group Inc. now owns 1,297,097 shares of the business services provider’s stock valued at $240,054,000 after purchasing an additional 145,128 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Cintas by 0.4% during the second quarter. Frontier Capital Management Co. LLC now owns 845,600 shares of the business services provider’s stock valued at $156,495,000 after purchasing an additional 3,485 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in shares of Cintas by 18,267.8% in the second quarter. Cornerstone Wealth Management LLC now owns 766,673 shares of the business services provider’s stock worth $4,064,000 after buying an additional 762,499 shares during the last quarter. 66.71% of the stock is owned by hedge funds and other institutional investors.

Cintas stock opened at $171.90 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.65 and a current ratio of 3.10. The stock has a market capitalization of $18.33 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. Cintas Co. has a 52 week low of $144.40 and a 52 week high of $217.34.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.13. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.68 billion. Cintas had a return on equity of 24.13% and a net margin of 12.72%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. Analysts anticipate that Cintas Co. will post 7.24 EPS for the current year.

A number of analysts have weighed in on CTAS shares. Morgan Stanley boosted their price target on Cintas from $152.00 to $158.00 and gave the stock a “$192.53” rating in a research report on Wednesday, July 18th. Robert W. Baird set a $235.00 price target on Cintas and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research cut Cintas from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Barclays boosted their price target on Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 26th. Finally, Stifel Nicolaus boosted their price target on Cintas from $162.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $196.33.

Cintas Company Profile

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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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