DAVENPORT & Co LLC Increases Position in Cintas Corporation $CTAS

DAVENPORT & Co LLC increased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,480 shares of the business services provider’s stock after purchasing an additional 394 shares during the period. DAVENPORT & Co LLC’s holdings in Cintas were worth $6,347,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC purchased a new position in Cintas during the first quarter worth about $270,000. Pinnacle Financial Partners Inc raised its holdings in Cintas by 3.8% during the first quarter. Pinnacle Financial Partners Inc now owns 60,099 shares of the business services provider’s stock worth $12,327,000 after purchasing an additional 2,191 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Cintas by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,967 shares of the business services provider’s stock worth $2,049,000 after purchasing an additional 3,404 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Cintas by 25.5% during the first quarter. BNP Paribas Financial Markets now owns 791,197 shares of the business services provider’s stock worth $162,615,000 after purchasing an additional 160,820 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Cintas by 1.0% during the first quarter. Fifth Third Bancorp now owns 605,222 shares of the business services provider’s stock worth $124,391,000 after purchasing an additional 5,784 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Up 0.1%

CTAS stock opened at $199.17 on Wednesday. The company’s 50 day simple moving average is $210.10 and its 200-day simple moving average is $213.19. The firm has a market capitalization of $80.26 billion, a PE ratio of 45.16, a P/E/G ratio of 3.44 and a beta of 1.01. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Equities analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were given a $0.45 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, August 15th. Cintas’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Weiss Ratings restated a “buy (b)” rating on shares of Cintas in a research report on Saturday, September 27th. Wells Fargo & Company lowered their target price 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. Morgan Stanley upped their target price on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada lowered their target price on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $222.09.

Insider Activity

In other news, Director Martin Mucci acquired 1,200 shares of Cintas stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average price of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director owned 2,621 shares of the company’s stock, valued at approximately $583,303.55. This represents a 84.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares in the company, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.90% of the company’s stock.

Cintas Profile

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.