Cintas Corporation $CTAS Shares Purchased by Howard Capital Management LLC

Howard Capital Management LLC raised its holdings in Cintas Corporation (NASDAQ:CTAS) by 44.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,407 shares of the business services provider’s stock after acquiring an additional 4,734 shares during the quarter. Howard Capital Management LLC’s holdings in Cintas were worth $3,005,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AMG National Trust Bank bought a new stake in Cintas in the second quarter worth $1,973,000. Summit Global Investments bought a new position in Cintas during the second quarter valued at about $950,000. TimesSquare Capital Management LLC bought a new position in Cintas during the second quarter valued at about $62,057,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cintas in the second quarter worth about $4,972,000. Finally, BlackRock Inc. acquired a new stake in shares of Cintas in the second quarter worth about $4,520,425,000. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Truist Financial raised their price objective on Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a report on Thursday, September 24th. Rothschild & Co Redburn upped their target price on Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group increased their price target on Cintas from $200.00 to $210.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.50.

Cintas Stock Performance

CTAS traded up $0.63 during trading on Friday, hitting $213.69. The stock had a trading volume of 1,822,045 shares, compared to its average volume of 2,015,325. The firm has a market cap of $84.85 billion, a PE ratio of 42.15, a P/E/G ratio of 3.39 and a beta of 0.92. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. The company has a 50 day simple moving average of $200.99 and a 200-day simple moving average of $187.24.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Analysts expect that Cintas Corporation will post 5.52 EPS for the current year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is presently 41.03%.

About Cintas

Cintas Corporation (NASDAQ: CTAS) provides workplace services to businesses and organizations across North America. The company’s primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.