Cintas Corporation $CTAS Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp lowered its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.9% in the second quarter, Holdings Channel reports. The institutional investor owned 8,768 shares of the business services provider’s stock after selling 171 shares during the quarter. Progressive Investment Management Corp’s holdings in Cintas were worth $1,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WPG Advisers LLC acquired a new stake in Cintas in the 1st quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in Cintas in the 1st quarter valued at approximately $29,000. Stone House Investment Management LLC acquired a new stake in Cintas in the 1st quarter valued at approximately $41,000. Resources Management Corp CT ADV acquired a new stake in Cintas in the 1st quarter valued at approximately $41,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Transactions at Cintas

In other news, Director Martin Mucci acquired 1,200 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was acquired at an average cost of $222.55 per share, with a total value of $267,060.00. Following the transaction, the director owned 2,621 shares in the company, valued at approximately $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the sale, the director directly owned 21,945 shares of the company’s stock, valued at approximately $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $188.10 on Friday. The stock has a market capitalization of $75.59 billion, a PE ratio of 42.65, a P/E/G ratio of 3.19 and a beta of 1.01. The firm has a 50 day moving average of $204.61 and a two-hundred day moving average of $212.41. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, research analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were given a dividend of $0.45 per share. This is an increase from Cintas’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 40.82%.

Analysts Set New Price Targets

Several analysts recently weighed in on CTAS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Cintas in a report on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. JPMorgan Chase & Co. dropped their target price on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. UBS Group lifted their target price on shares of Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Robert W. Baird raised their price target on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $222.09.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.