Oregon Public Employees Retirement Fund lessened its position in shares of Cintas Co. (NASDAQ:CTAS) by 51.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,937 shares of the business services provider’s stock after selling 9,473 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cintas were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Nelson Roberts Investment Advisors LLC acquired a new stake in shares of Cintas during the 4th quarter worth approximately $25,000. Capital Financial Planning LLC acquired a new stake in shares of Cintas during the 4th quarter worth approximately $29,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Cintas during the 1st quarter worth approximately $36,000. CWM LLC lifted its position in shares of Cintas by 52.4% during the 1st quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after buying an additional 66 shares during the period. Finally, Washington Trust Bank bought a new position in shares of Cintas during the 1st quarter worth approximately $45,000. 67.40% of the stock is currently owned by institutional investors.
Shares of CTAS opened at $222.50 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.80. Cintas Co. has a 52-week low of $155.98 and a 52-week high of $227.64. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.
In other Cintas news, VP Thomas E. Frooman sold 2,415 shares of Cintas stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $207.81, for a total value of $501,861.15. Following the completion of the transaction, the vice president now owns 122,251 shares in the company, valued at approximately $25,404,980.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 6,255 shares of Cintas stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $222.20, for a total value of $1,389,861.00. Following the completion of the transaction, the director now owns 7,973 shares of the company’s stock, valued at approximately $1,771,600.60. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.
Several research firms recently commented on CTAS. BidaskClub upgraded Cintas from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 18th. Zacks Investment Research downgraded Cintas from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. ValuEngine upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Morgan Stanley raised their target price on Cintas from $163.00 to $172.00 and gave the stock an “underweight” rating in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. raised their target price on Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $200.05.
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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