Acadian Asset Management LLC Reduces Stake in Cintas Corporation $CTAS

Key Points

• Acadian Asset Management LLC reduced its stake in Cintas Corporation by 42.9%, now holding approximately 1.43 million shares valued at about $294 million.
• Several institutional investors have increased their holdings, with Gotham Asset Management raising its stake by 26.9% and Janus Henderson Group increasing it by 29.9%.
• Cintas recently raised its quarterly dividend to $0.45 per share, representing an annualized yield of 0.9%, amidst positive performance with a revenue increase of 8.0% year-over-year.

Acadian Asset Management LLC lessened its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 42.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,430,733 shares of the business services provider's stock after selling 1,075,798 shares during the period. Cintas comprises approximately 0.8% of Acadian Asset Management LLC's holdings, making the stock its 29th biggest position. Acadian Asset Management LLC owned approximately 0.35% of Cintas worth $294,031,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Crestwood Advisors Group LLC purchased a new stake in Cintas in the 1st quarter worth approximately $270,000. Pinnacle Financial Partners Inc increased its holdings in Cintas by 3.8% in the 1st quarter. Pinnacle Financial Partners Inc now owns 60,099 shares of the business services provider's stock worth $12,327,000 after acquiring an additional 2,191 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Cintas by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,967 shares of the business services provider's stock worth $2,049,000 after acquiring an additional 3,404 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Cintas by 25.5% in the 1st quarter. BNP Paribas Financial Markets now owns 791,197 shares of the business services provider's stock worth $162,615,000 after acquiring an additional 160,820 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Cintas by 1.0% in the 1st quarter. Fifth Third Bancorp now owns 605,222 shares of the business services provider's stock worth $124,391,000 after acquiring an additional 5,784 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Transactions at Cintas

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

Cintas Trading Down 1.0%

CTAS traded down $2.13 during trading on Friday, reaching $202.37. The company had a trading volume of 1,371,284 shares, compared to its average volume of 1,933,127. The stock has a market cap of $81.55 billion, a P/E ratio of 45.89, a PEG ratio of 3.53 and a beta of 1.01. The business has a 50 day simple moving average of $216.03 and a 200-day simple moving average of $212.79. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52.

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

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. This is a positive change from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. Cintas's dividend payout ratio is 40.82%.

Analysts Set New Price Targets

CTAS has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Robert W. Baird increased their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. JPMorgan Chase & Co. began coverage on shares of Cintas in a report on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective for the company. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Finally, Morgan Stanley increased their price objective on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a report 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.