Invst LLC Purchases New Position in Cintas Corporation $CTAS

Invst LLC purchased a new stake in Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,478 shares of the business services provider’s stock, valued at approximately $592,000.

A number of other institutional investors also recently made changes to their positions in the company. First Bancorp Inc ME acquired a new position in shares of Cintas in the second quarter valued at approximately $39,000. Jupiter Topco LLC bought a new stake in Cintas in the 2nd quarter valued at $6,661,000. Bristol Gate Capital Partners Inc. bought a new stake in Cintas in the 2nd quarter valued at $61,697,000. Palisade Capital Management LP acquired a new position in Cintas in the 2nd quarter valued at $12,195,000. Finally, Canada Pension Plan Investment Board acquired a new position in Cintas in the 2nd quarter valued at $64,740,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTAS. Robert W. Baird boosted their target price on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. UBS Group reissued a “buy” rating and issued a $230.00 price objective (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Truist Financial lowered their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cintas has an average rating of “Moderate Buy” and an average target price of $212.31.

Cintas Stock Down 1.3%

Shares of NASDAQ:CTAS opened at $204.76 on Wednesday. The firm has a market cap 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. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The business has a fifty day simple moving average of $192.37 and a 200 day simple moving average of $185.24. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28.

Cintas (NASDAQ:CTAS) last released 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 firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 EPS. 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 company 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 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 a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is currently 55.61%.

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.