Dearborn Partners LLC Invests $20.82 Million in Cintas Corporation $CTAS

Dearborn Partners LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 123,111 shares of the business services provider’s stock, valued at approximately $20,823,000.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Cintas during the second quarter worth about $4,520,425,000. State Street Corp grew its holdings in shares of Cintas by 1.4% in the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock valued at $2,879,632,000 after purchasing an additional 210,477 shares in the last quarter. Geode Capital Management LLC increased its stake in Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after buying an additional 97,220 shares during the period. Norges Bank purchased a new stake in Cintas during the 4th quarter worth approximately $923,672,000. Finally, Morgan Stanley lifted its holdings in Cintas by 0.8% during the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after buying an additional 36,666 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTAS. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Truist Financial lowered their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. Finally, UBS Group reaffirmed a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Trading Up 1.8%

NASDAQ CTAS opened at $207.40 on Tuesday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The firm has a 50 day moving average of $191.81 and a two-hundred day moving average of $185.16. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $83.00 billion, a PE ratio of 55.45, a price-to-earnings-growth ratio of 3.29 and a beta of 0.92.

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

Cintas Increases Dividend

The firm 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 of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is presently 55.61%.

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.