First Trust Advisors LP increased its stake in Cintas Corporation (NASDAQ:CTAS – Free Report) by 11.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112,176 shares of the business services provider’s stock after acquiring an additional 11,132 shares during the quarter. First Trust Advisors LP’s holdings in Cintas were worth $18,973,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CTAS. ABN Amro Investment Solutions increased its stake in shares of Cintas by 2.6% during the first quarter. ABN Amro Investment Solutions now owns 20,488 shares of the business services provider’s stock worth $3,465,000 after purchasing an additional 519 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Cintas by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,163,448 shares of the business services provider’s stock valued at $196,786,000 after buying an additional 28,844 shares in the last quarter. HORAN Wealth LLC boosted its holdings in Cintas by 99.9% in the 1st quarter. HORAN Wealth LLC now owns 16,198 shares of the business services provider’s stock worth $2,974,000 after buying an additional 8,094 shares during the last quarter. Andra AP fonden boosted its holdings in Cintas by 12.4% in the 1st quarter. Andra AP fonden now owns 78,600 shares of the business services provider’s stock worth $13,294,000 after buying an additional 8,669 shares during the last quarter. Finally, Glenview Trust Co increased its stake in Cintas by 2.7% during the 1st quarter. Glenview Trust Co now owns 3,688 shares of the business services provider’s stock worth $624,000 after buying an additional 97 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Argus raised Cintas to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research report on Thursday, July 16th. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Moderate Buy” and an average target price of $212.31.
Cintas Stock Up 0.8%
Shares of NASDAQ CTAS opened at $216.53 on Thursday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75. The stock has a market cap of $86.63 billion, a PE ratio of 57.90, a P/E/G ratio of 3.47 and a beta of 0.94. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $181.79 and a 200 day moving average of $183.88.
Cintas (NASDAQ:CTAS – Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Cintas’s quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, sell-side analysts predict that Cintas Corporation will post 5.49 EPS for the current fiscal year.
Cintas Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.52 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s payout ratio is 48.13%.
Cintas Profile
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
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