Azimuth Capital Investment Management LLC Acquires New Stake in Cintas Corporation $CTAS

Key Points

• Azimuth Capital Investment Management LLC has acquired 1,200 shares of Cintas Corporation (NASDAQ: CTAS) valued at approximately $247,000 as part of their first-quarter investments.
• Several institutional investors, including Nuveen LLC and Vanguard Group Inc., have significantly increased their stakes in Cintas, indicating growing confidence in the company.
• Cintas has announced an increase in its quarterly dividend to $0.45 per share, raising the annualized dividend to $1.80, with a yield of 0.8% and an ex-dividend date of August 15th.

Azimuth Capital Investment Management LLC bought a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,200 shares of the business services provider's stock, valued at approximately $247,000.

Several other large investors also recently modified their holdings of CTAS. Stone House Investment Management LLC acquired a new stake in shares of Cintas during the first quarter valued at about $41,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares during the last quarter. Washington Trust Advisors Inc. bought a new position in shares of Cintas during the first quarter worth about $46,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Cintas during the first quarter worth about $46,000. Finally, Wellington Shields & Co. LLC bought a new position in shares of Cintas during the first quarter worth about $51,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In related news, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the transaction, the director owned 21,945 shares in the company, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Mucci acquired 1,200 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were bought at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director directly owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.00% of the stock is owned by company insiders.

Cintas Stock Performance

NASDAQ CTAS traded up $0.2990 during trading hours on Wednesday, reaching $216.7290. The company's stock had a trading volume of 651,416 shares, compared to its average volume of 1,678,353. The business has a 50-day simple moving average of $220.53 and a 200 day simple moving average of $212.33. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The stock has a market cap of $87.34 billion, a PE ratio of 49.16, a PEG ratio of 3.69 and a beta of 1.03. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business earned $3.99 earnings per share. Cintas's revenue was up 8.0% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Equities research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. Cintas's dividend payout ratio (DPR) is 40.82%.

Analyst Ratings Changes

Several brokerages have recently commented on CTAS. JPMorgan Chase & Co. began coverage on shares of Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price target on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price target (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Morgan Stanley increased their price target on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. UBS Group increased their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.