Cintas Corporation $CTAS Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. trimmed its holdings in Cintas Corporation (NASDAQ:CTAS) by 56.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,718 shares of the business services provider’s stock after selling 8,772 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cintas were worth $1,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Cintas in the 4th quarter valued at $923,672,000. Two Sigma Investments LP raised its holdings in Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after buying an additional 998,963 shares during the period. Voloridge Investment Management LLC raised its holdings in Cintas by 275.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after buying an additional 823,885 shares during the period. Freestone Grove Partners LP lifted its position in Cintas by 5,341.8% in the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock valued at $153,352,000 after buying an additional 733,380 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Cintas by 2,286.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock worth $138,536,000 after buying an additional 705,751 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTAS. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. UBS Group reissued a “buy” rating and set a $230.00 target price (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Robert W. Baird raised their target price on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

NASDAQ:CTAS opened at $203.51 on Thursday. The company has a fifty day simple moving average of $188.04 and a two-hundred day simple moving average of $184.56. The company has a market cap of $81.44 billion, a price-to-earnings ratio of 54.41, a price-to-earnings-growth ratio of 3.31 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $225.85.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This is a positive change from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 48.13%.

Cintas Company 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.