The Manufacturers Life Insurance Company Makes New $36.58 Million Investment in Cintas Corporation $CTAS

The Manufacturers Life Insurance Company purchased a new stake in Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 215,084 shares of the business services provider’s stock, valued at approximately $36,581,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CTAS. Nemes Rush Group LLC acquired a new position in shares of Cintas in the 4th quarter valued at $25,000. First United Bank & Trust acquired a new stake in shares of Cintas during the 1st quarter worth $25,000. Whipplewood Advisors LLC increased its holdings in shares of Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after buying an additional 137 shares during the last quarter. Swiss RE Ltd. purchased a new position in shares of Cintas in the 4th quarter worth $25,000. Finally, Camelot Portfolios LLC purchased a new position in shares of Cintas in the 4th quarter worth $26,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $205.78 on Thursday. The firm has a market cap of $82.35 billion, a P/E ratio of 55.02, a price-to-earnings-growth ratio of 3.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16. The stock has a 50-day simple moving average of $193.10 and a 200-day simple moving average of $185.32.

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

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and issued a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating and issued a $230.00 price objective (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas has a consensus rating of “Moderate Buy” and an average target price of $212.31.

About Cintas

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.