Invst LLC Buys New Position in Cintas Corporation $CTAS

Invst LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, Holdings Channel reports. The fund bought 3,478 shares of the business services provider’s stock, valued at approximately $592,000.

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

Cintas Stock Down 1.3%

Shares of NASDAQ CTAS opened at $204.76 on Wednesday. The stock has a market capitalization of $81.94 billion, a P/E ratio of 54.75, a P/E/G ratio of 3.35 and a beta of 0.92. The company has a 50-day moving average price of $192.37 and a 200-day moving average price of $185.24. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities research analysts forecast that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed 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. 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%. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is presently 55.61%.

Analyst Upgrades and Downgrades

CTAS has been the topic of several research reports. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Robert W. Baird boosted their target price on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research report 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. Finally, Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cintas currently has an average rating of “Moderate Buy” and an average price target of $212.31.

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.