Livforsakringsbolaget Skandia Omsesidigt Purchases New Shares in Cintas Corporation $CTAS

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,956 shares of the business services provider’s stock, valued at approximately $503,000.

A number of other large investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after acquiring an additional 108 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Cintas in the 2nd quarter worth about $625,000. Treasurer of the State of North Carolina boosted its position in Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in Cintas by 50.2% during the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after purchasing an additional 31,068 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CTAS shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Argus raised shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Finally, UBS Group restated a “buy” rating and set a $230.00 price objective (up from $228.00) 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 assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Price Performance

NASDAQ:CTAS opened at $204.18 on Friday. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. The stock has a 50 day moving average of $194.43 and a two-hundred day moving average of $185.51. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a market cap of $81.71 billion, a P/E ratio of 54.59, a price-to-earnings-growth ratio of 3.30 and a beta of 0.92.

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

Cintas Increases Dividend

The company 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is 55.61%.

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.