Sanders Morris Harris LLC acquired a new position in Cintas Corporation (NASDAQ:CTAS – Free Report) in the third quarter, Holdings Channel reports. The fund acquired 48,969 shares of the business services provider’s stock, valued at approximately $9,552,000. Cintas makes up approximately 1.3% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 18th biggest position.
A number of other hedge funds have also recently made changes to their positions in CTAS. First Citizens Bank & Trust Co. increased its position in shares of Cintas by 217.5% during the third quarter. First Citizens Bank & Trust Co. now owns 22,494 shares of the business services provider’s stock worth $4,388,000 after purchasing an additional 15,410 shares in the last quarter. Focus Financial Network Inc. lifted its stake in shares of Cintas by 168.5% during the third quarter. Focus Financial Network Inc. now owns 3,735 shares of the business services provider’s stock worth $729,000 after buying an additional 2,344 shares during the period. Salem Investment Counselors Inc. increased its position in shares of Cintas by 8.1% in the 3rd quarter. Salem Investment Counselors Inc. now owns 50,253 shares of the business services provider’s stock valued at $9,802,000 after acquiring an additional 3,756 shares during the period. Signal Advisors Wealth LLC lifted its holdings in shares of Cintas by 39.4% during the third quarter. Signal Advisors Wealth LLC now owns 23,996 shares of the business services provider’s stock worth $4,681,000 after purchasing an additional 6,778 shares during the period. Finally, Copeland Capital Management LLC lifted its stake in Cintas by 4.7% during the 3rd quarter. Copeland Capital Management LLC now owns 66,852 shares of the business services provider’s stock valued at $13,040,000 after acquiring an additional 2,985 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CTAS. Citigroup raised their target price on shares of Cintas from $180.00 to $181.00 and gave the stock a “sell” rating in a report on Wednesday, September 30th. Robert W. Baird set a $222.00 price target on shares of Cintas and gave the company an “outperform” rating in a research report on Thursday, September 24th. Jefferies Financial Group lifted their price target on Cintas from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. The Goldman Sachs Group raised their price objective on Cintas from $231.00 to $239.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Finally, Truist Financial upped their target price on Cintas from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.50.
Cintas Trading Up 1.1%
NASDAQ CTAS traded up $2.25 on Wednesday, reaching $208.63. 2,234,933 shares of the company were exchanged, compared to its average volume of 2,121,160. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. The stock has a market capitalization of $82.84 billion, a P/E ratio of 41.15, a price-to-earnings-growth ratio of 3.26 and a beta of 0.92. The business’s fifty day moving average price is $200.42 and its 200 day moving average price is $186.44. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27.
Cintas (NASDAQ:CTAS – Get Free Report) last issued its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. Cintas’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Analysts forecast that Cintas Corporation will post 5.52 earnings per share for the current year.
Cintas Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were issued a $0.52 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is currently 41.03%.
Cintas Profile
Cintas Corporation (NASDAQ: CTAS) provides workplace services to businesses and organizations across North America. The company’s primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.
Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.
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