Welch & Forbes LLC Has $43.07 Million Stock Holdings in Cintas Corporation $CTAS

Welch & Forbes LLC lifted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 193,241 shares of the business services provider’s stock after buying an additional 745 shares during the quarter. Welch & Forbes LLC’s holdings in Cintas were worth $43,068,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Alpha Financial Partners LLC raised its stake in Cintas by 2.9% in the 2nd quarter. Alpha Financial Partners LLC now owns 1,602 shares of the business services provider’s stock worth $357,000 after purchasing an additional 45 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in Cintas by 3.9% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider’s stock worth $258,000 after purchasing an additional 47 shares in the last quarter. Oarsman Capital Inc. raised its stake in Cintas by 3.9% in the 1st quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider’s stock worth $272,000 after purchasing an additional 49 shares in the last quarter. Independent Wealth Network Inc. raised its stake in Cintas by 4.8% in the 2nd quarter. Independent Wealth Network Inc. now owns 1,077 shares of the business services provider’s stock worth $240,000 after purchasing an additional 49 shares in the last quarter. Finally, PDS Planning Inc raised its stake in Cintas by 2.0% in the 2nd quarter. PDS Planning Inc now owns 2,508 shares of the business services provider’s stock worth $559,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, September 26th. Robert W. Baird lifted their price objective on shares of Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Morgan Stanley raised 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. Finally, Royal Bank Of Canada decreased their target price on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $222.09.

Cintas Price Performance

CTAS stock opened at $183.27 on Friday. 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 Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The firm has a market cap of $73.65 billion, a P/E ratio of 41.56, a P/E/G ratio of 3.18 and a beta of 1.01. The company’s 50-day moving average price is $198.73 and its two-hundred day moving average price is $211.78.

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

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s payout ratio is 40.82%.

Cintas announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Cintas 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.