NewEdge Wealth LLC Buys New Shares in Cintas Corporation $CTAS

NewEdge Wealth LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 20,080 shares of the business services provider’s stock, valued at approximately $3,415,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. BlackRock Inc. bought a new position in Cintas during the second quarter worth about $4,520,425,000. Norges Bank bought a new position in shares of Cintas during the 4th quarter worth approximately $923,672,000. Bank of New York Mellon Corp bought a new position in Cintas during the second quarter worth $644,334,000. Deutsche Bank AG bought a new position in Cintas during the second quarter worth $204,831,000. Finally, Two Sigma Investments LP increased its holdings in shares of Cintas by 5,641.3% in the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after purchasing an additional 998,963 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTAS shares. 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. Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. UBS Group reiterated 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. Robert W. Baird lifted their target price on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Stock Up 0.2%

Shares of CTAS opened at $203.52 on Friday. 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 52 week low of $161.16 and a 52 week high of $219.16. The stock has a market capitalization of $81.44 billion, a price-to-earnings ratio of 54.42, a PEG ratio of 3.28 and a beta of 0.92. The stock has a fifty day moving average of $190.61 and a 200-day moving average of $184.95.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. The business had revenue of $2.91 billion during 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%.Cintas’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, sell-side analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 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.