Csenge Advisory Group purchased a new position in Cintas Corporation (NASDAQ:CTAS – Free Report) in the second quarter, HoldingsChannel reports. The fund purchased 5,442 shares of the business services provider’s stock, valued at approximately $926,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. AMG National Trust Bank bought a new stake in shares of Cintas during the second quarter valued at approximately $1,973,000. Summit Global Investments bought a new position in Cintas in the second quarter worth $950,000. Oppenheimer Asset Management Inc. bought a new position in Cintas in the second quarter worth $4,972,000. Riverbridge Partners LLC lifted its position in Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after buying an additional 16,437 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new position in Cintas during the second quarter valued at $62,057,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CTAS. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research report on Thursday, July 16th. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $231.00 target price on shares of Cintas in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.
Cintas Trading Up 1.8%
NASDAQ CTAS opened at $203.08 on Thursday. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.87. The stock has a market cap of $81.27 billion, a P/E ratio of 54.30, a P/E/G ratio of 3.22 and a beta of 0.92. The stock’s fifty day moving average price is $190.18 and its 200-day moving average price is $184.86. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.
Cintas (NASDAQ:CTAS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities analysts forecast that Cintas Corporation will post 5.49 EPS for the current fiscal year.
Cintas Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is 55.61%.
About Cintas
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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