Varma Mutual Pension Insurance Co Purchases New Holdings in Cintas Corporation $CTAS

Varma Mutual Pension Insurance Co purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,056 shares of the business services provider’s stock, valued at approximately $11,065,000.

Other hedge funds have also recently added to or reduced their stakes in the company. One Capital Management LLC raised its holdings in Cintas by 0.9% in the 4th quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after acquiring an additional 53 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Cintas by 0.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock worth $1,236,000 after purchasing an additional 58 shares during the period. Sachetta LLC increased its position in shares of Cintas by 46.0% in the first quarter. Sachetta LLC now owns 200 shares of the business services provider’s stock worth $34,000 after purchasing an additional 63 shares during the period. Ausdal Financial Partners Inc. raised its stake in Cintas by 2.8% in the second quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock valued at $510,000 after purchasing an additional 63 shares in the last quarter. Finally, Elyxium Wealth LLC lifted its position in Cintas by 4.9% during the fourth quarter. Elyxium Wealth LLC now owns 1,368 shares of the business services provider’s stock worth $257,000 after purchasing an additional 64 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTAS. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Truist Financial cut their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research report on Thursday, July 16th. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $231.00 price objective on shares of Cintas in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $203.79 on Monday. The business has a fifty day simple moving average of $191.16 and a 200 day simple moving average of $185.04. 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 firm has a market cap of $81.55 billion, a P/E ratio of 54.49, a P/E/G ratio of 3.29 and a beta of 0.91. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16.

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

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This is a boost 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 dividend yield of 1.0%. Cintas’s payout ratio is currently 55.61%.

Cintas Company 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.