OFI Invest Asset Management raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 28.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500 shares of the business services provider’s stock after purchasing an additional 111 shares during the quarter. OFI Invest Asset Management’s holdings in Cintas were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in CTAS. Brighton Jones LLC lifted its holdings in Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 108 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of Cintas in the first quarter worth about $333,000. Salem Investment Counselors Inc. lifted its holdings in shares of Cintas by 11.0% in the first quarter. Salem Investment Counselors Inc. now owns 577 shares of the business services provider’s stock worth $119,000 after buying an additional 57 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in shares of Cintas by 9.6% in the first quarter. Elevation Point Wealth Partners LLC now owns 5,193 shares of the business services provider’s stock worth $1,067,000 after buying an additional 457 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in shares of Cintas by 3.9% in the first quarter. CVA Family Office LLC now owns 1,453 shares of the business services provider’s stock worth $299,000 after buying an additional 54 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Cintas
In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares in the company, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the transaction, the chief executive officer owned 622,712 shares in the company, valued at $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.90% of the company’s stock.
Cintas Stock Down 2.0%
Cintas (NASDAQ:CTAS – Get Free Report) last posted its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the business earned $1.10 earnings per share. Cintas’s revenue for the quarter was up 8.7% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Sell-side analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.
Cintas Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 15th. This is an increase from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 40.82%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on CTAS. UBS Group increased their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Cintas in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Citigroup increased their price target on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a report on Friday, September 26th. Finally, Morgan Stanley upped their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $222.09.
Get Our Latest Stock Report on CTAS
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.
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