StoneRidge PMG Advisors LLC Acquires New Holdings in Cintas Corporation $CTAS

StoneRidge PMG Advisors LLC bought a new stake in Cintas Corporation (NASDAQ:CTAS) during the third quarter, Holdings Channel.com reports. The fund bought 2,812 shares of the business services provider’s stock, valued at approximately $549,000.

A number of other hedge funds have also recently modified their holdings of the stock. William Allan Corp lifted its position in Cintas by 0.5% in the third quarter. William Allan Corp now owns 9,608 shares of the business services provider’s stock valued at $1,874,000 after acquiring an additional 48 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Cintas by 1.6% in the 2nd quarter. Rehmann Capital Advisory Group now owns 3,355 shares of the business services provider’s stock valued at $580,000 after purchasing an additional 54 shares during the period. Parallel Advisors LLC grew its stake in Cintas by 0.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,090 shares of the business services provider’s stock worth $1,383,000 after buying an additional 61 shares during the last quarter. Childress Capital Advisors LLC grew its stake in Cintas by 3.2% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,003 shares of the business services provider’s stock worth $391,000 after buying an additional 62 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Cintas by 4.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,462 shares of the business services provider’s stock worth $285,000 after buying an additional 65 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

NASDAQ:CTAS opened at $222.36 on Monday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $233.46. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $206.46 and its 200-day simple moving average is $191.28. The firm has a market cap of $88.29 billion, a P/E ratio of 43.86, a PEG ratio of 3.53 and a beta of 0.86.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business posted $1.20 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Equities analysts anticipate that Cintas Corporation will post 5.53 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Cintas’s dividend payout ratio is 41.03%.

Analyst Ratings Changes

CTAS has been the subject of a number of research reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cintas in a research note on Thursday, September 10th. Rothschild & Co Redburn raised their target price on shares of Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Jefferies Financial Group upped their price target on shares of Cintas from $200.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Robert W. Baird set a $222.00 price target on shares of Cintas and gave the stock an “outperform” rating in a research note on Thursday, September 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Cintas from $231.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.62.

Cintas Profile

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms.

The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment.

Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.