Forsta AP Fonden Has $26.19 Million Holdings in Cintas Corporation $CTAS

Forsta AP Fonden increased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,500 shares of the business services provider’s stock after purchasing an additional 1,500 shares during the period. Forsta AP Fonden’s holdings in Cintas were worth $26,187,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Cintas by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider’s stock valued at $7,781,223,000 after buying an additional 491,307 shares during the period. Nuveen LLC acquired a new stake in shares of Cintas during the 1st quarter valued at about $1,877,760,000. Northern Trust Corp increased its stake in Cintas by 0.7% in the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider’s stock valued at $841,749,000 after acquiring an additional 28,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cintas by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,877,309 shares of the business services provider’s stock worth $591,373,000 after purchasing an additional 59,162 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Cintas by 17.4% during the first quarter. Ameriprise Financial Inc. now owns 2,615,330 shares of the business services provider’s stock worth $538,303,000 after purchasing an additional 386,721 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CTAS shares. UBS Group increased their target price on Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Wells Fargo & Company lowered their price target on Cintas from $221.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. cut their price objective on Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Robert W. Baird boosted their target price on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Finally, Citigroup increased their target price on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $216.23.

Cintas Stock Up 0.3%

Shares of NASDAQ CTAS opened at $185.76 on Wednesday. Cintas Corporation has a 12-month low of $180.39 and a 12-month high of $229.24. The firm’s 50-day simple moving average is $195.15 and its 200 day simple moving average is $210.77. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. The company has a market cap of $74.65 billion, a price-to-earnings ratio of 42.12, a price-to-earnings-growth ratio of 3.18 and a beta of 0.99.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, beating 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 firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the company posted $1.10 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

Cintas declared that its Board of Directors has approved a share buyback plan on Tuesday, October 28th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About Cintas

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.