Bank of Nova Scotia Has $1.76 Million Holdings in Cintas Co. (CTAS)

Bank of Nova Scotia cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 60.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,486 shares of the business services provider’s stock after selling 14,658 shares during the quarter. Bank of Nova Scotia’s holdings in Cintas were worth $1,756,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Morse Asset Management Inc increased its holdings in shares of Cintas by 123.6% in the 2nd quarter. Morse Asset Management Inc now owns 8,507 shares of the business services provider’s stock valued at $1,574,000 after purchasing an additional 4,702 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Cintas in the 2nd quarter valued at about $277,000. Pittenger & Anderson Inc. increased its holdings in shares of Cintas by 3.9% in the 2nd quarter. Pittenger & Anderson Inc. now owns 18,919 shares of the business services provider’s stock valued at $3,501,000 after purchasing an additional 710 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of Cintas by 105.2% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,375 shares of the business services provider’s stock valued at $254,000 after purchasing an additional 705 shares during the period. Finally, Select Equity Group L.P. increased its holdings in shares of Cintas by 24.7% in the 2nd quarter. Select Equity Group L.P. now owns 528,450 shares of the business services provider’s stock valued at $97,800,000 after purchasing an additional 104,725 shares during the period. 68.70% of the stock is owned by institutional investors.

NASDAQ:CTAS opened at $197.59 on Friday. Cintas Co. has a 52 week low of $141.76 and a 52 week high of $217.34. The company has a market capitalization of $23.15 billion, a P/E ratio of 33.26, a PEG ratio of 2.50 and a beta of 0.98. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.19 and a current ratio of 2.55.

Cintas (NASDAQ:CTAS) last released 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. Cintas had a return on equity of 25.25% and a net margin of 12.72%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. sell-side analysts anticipate that Cintas Co. will post 7.09 EPS for the current year.

A number of equities analysts recently commented on the company. Robert W. Baird set a $235.00 price objective on Cintas and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley increased their price objective on Cintas from $178.00 to $183.00 and gave the stock a “sell” rating in a report on Wednesday. Barclays increased their price objective on Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Investment Research downgraded Cintas from a “hold” rating to a “sell” rating in a report on Monday. Finally, Credit Suisse Group assumed coverage on Cintas in a report on Friday, August 10th. They issued a “neutral” rating and a $205.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Cintas has an average rating of “Buy” and a consensus target price of $195.00.

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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