USS Investment Management Ltd Purchases 3,557 Shares of Cintas Corporation $CTAS

USS Investment Management Ltd increased its position in Cintas Corporation (NASDAQ:CTAS) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,889 shares of the business services provider’s stock after acquiring an additional 3,557 shares during the period. USS Investment Management Ltd’s holdings in Cintas were worth $10,635,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were 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 $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.90% of the stock is owned by insiders.

Cintas Stock Performance

NASDAQ:CTAS opened at $174.23 on Thursday. The stock has a 50-day simple moving average of $172.51 and a two-hundred day simple moving average of $183.05. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75. 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 $69.71 billion, a PE ratio of 49.22, a P/E/G ratio of 2.71 and a beta of 0.94.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is presently 50.85%.

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.