Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Cintas Corporation $CTAS

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,031 shares of the business services provider’s stock, valued at approximately $7,139,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in shares of Cintas during the 1st quarter worth about $27,000. Saudi Central Bank acquired a new position in Cintas in the first quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC grew its stake in Cintas by 800.0% during the second quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock worth $32,000 after buying an additional 128 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Cintas by 3,925.0% during the second quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock worth $36,000 after buying an additional 157 shares in the last quarter. Finally, Stone House Investment Management LLC bought a new position in shares of Cintas in the first quarter valued at approximately $41,000. 63.46% of the stock is owned by institutional investors.

Cintas Stock Down 0.3%

Shares of NASDAQ CTAS opened at $185.28 on Thursday. Cintas Corporation has a 1 year low of $180.39 and a 1 year high of $229.24. The firm’s 50-day moving average is $194.74 and its 200-day moving average is $210.59. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $74.46 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 3.18 and a beta of 0.99.

Cintas (NASDAQ:CTAS) last announced 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 business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $1.10 earnings per share. Cintas’s 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. Equities analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas declared that its board has authorized a stock repurchase plan on Tuesday, October 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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 paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Redburn Partners set a $184.00 target price on Cintas in a report on Tuesday. Morgan Stanley raised their target price on Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Wells Fargo & Company reduced their price target on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Finally, Rothschild & Co Redburn raised shares of Cintas from a “sell” rating to a “neutral” rating and set a $184.00 price objective on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $215.07.

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.