Cintas Corporation $CTAS Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in shares of Cintas Corporation (NASDAQ:CTAS) by 46.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,022 shares of the business services provider’s stock after selling 19,412 shares during the period. Edgestream Partners L.P.’s holdings in Cintas were worth $3,725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Riverbridge Partners LLC lifted its position in shares of Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after purchasing an additional 16,437 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cintas by 2,286.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock valued at $138,536,000 after purchasing an additional 705,751 shares in the last quarter. SEB Asset Management AB acquired a new position in shares of Cintas in the first quarter valued at approximately $22,366,000. Suncoast Equity Management grew its holdings in shares of Cintas by 53.7% in the fourth quarter. Suncoast Equity Management now owns 23,845 shares of the business services provider’s stock valued at $4,485,000 after purchasing an additional 8,330 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in Cintas by 0.7% during the 4th quarter. King Luther Capital Management Corp now owns 1,812,112 shares of the business services provider’s stock worth $340,804,000 after buying an additional 12,204 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTAS shares. Truist Financial reduced 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. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 price target on shares of Cintas in a research note on Thursday, July 16th. Robert W. Baird upped their price objective on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Finally, Argus upgraded Cintas to a “strong-buy” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Stock Performance

Shares of Cintas stock opened at $204.63 on Friday. The business has a 50-day simple moving average of $183.11 and a 200-day simple moving average of $184.12. 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 one year low of $161.16 and a one year high of $226.75. The company has a market cap of $81.89 billion, a PE ratio of 54.71, a P/E/G ratio of 3.30 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last issued 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. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities research analysts forecast that Cintas Corporation will post 5.49 EPS 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 given a $0.52 dividend. 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%. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is currently 48.13%.

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.