Concentric Capital Strategies LP Buys Shares of 25,578 Cintas Corporation $CTAS

Key Points

• Concentric Capital Strategies LP acquired 25,578 shares of Cintas Corporation, valued at approximately $5.26 million, marking a new position in the company.
• Several institutional investors, including Nuveen LLC, made significant investments in Cintas during the first quarter, reflecting increasing institutional interest in the company's stock.
• Cintas announced a quarterly dividend increase to $0.45 per share, representing an annualized dividend of $1.80 and a dividend yield of 0.9%.

Concentric Capital Strategies LP bought a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 25,578 shares of the business services provider's stock, valued at approximately $5,257,000.

Other large investors also recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of Cintas in the 1st quarter worth $27,000. Saudi Central Bank bought a new position in shares of Cintas in the 1st quarter worth $29,000. Stone House Investment Management LLC bought a new position in shares of Cintas in the 1st quarter worth $41,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Cintas by 646.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after acquiring an additional 181 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new position in Cintas during the 1st quarter valued at $46,000. 63.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent analyst reports. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. The Goldman Sachs Group raised their price objective on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a research note on Thursday, August 21st. Robert W. Baird raised their price objective on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, UBS Group raised their price objective on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $224.54.

Cintas Stock Performance

Shares of Cintas stock traded down $2.34 during trading hours on Friday, hitting $204.50. 1,413,719 shares of the company's stock traded hands, compared to its average volume of 1,760,061. Cintas Corporation has a 12-month low of $180.78 and a 12-month high of $229.24. The stock has a market capitalization of $82.41 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 3.53 and a beta of 1.01. The company has a fifty day simple moving average of $217.78 and a 200-day simple moving average of $212.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%.The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the firm posted $3.99 EPS. The business'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 anticipate that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $0.45 dividend. This is an increase from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 0.9%. Cintas's payout ratio is 40.82%.

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.