Allspring Global Investments Holdings LLC Trims Stock Position in Cintas Corporation $CTAS

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Cintas Corporation by 21.1%, selling 28,515 shares during the second quarter.
• Cintas reported earnings of $1.20 per share for the latest quarter, slightly exceeding analysts' expectations, and had an 8.7% increase in year-over-year revenue.
• The company announced a quarterly dividend of $0.45 per share, an increase from the previous dividend of $0.39, reflecting a renewable investor interest.

Allspring Global Investments Holdings LLC reduced its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 21.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,907 shares of the business services provider's stock after selling 28,515 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Cintas were worth $23,980,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alpha Financial Partners LLC increased its position in Cintas by 2.9% during the 2nd quarter. Alpha Financial Partners LLC now owns 1,602 shares of the business services provider's stock valued at $357,000 after purchasing an additional 45 shares during the period. CWM LLC increased its position in Cintas by 34.8% during the 2nd quarter. CWM LLC now owns 35,210 shares of the business services provider's stock valued at $7,847,000 after purchasing an additional 9,085 shares during the period. OFI Invest Asset Management increased its position in Cintas by 28.5% during the 2nd quarter. OFI Invest Asset Management now owns 500 shares of the business services provider's stock valued at $111,000 after purchasing an additional 111 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Cintas by 16.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 67,820 shares of the business services provider's stock valued at $15,117,000 after purchasing an additional 9,467 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in Cintas by 22.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,191 shares of the business services provider's stock valued at $3,608,000 after purchasing an additional 2,994 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the topic of a number of recent research reports. Morgan Stanley upped their target price 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. Royal Bank Of Canada reduced their target price on shares of Cintas from $240.00 to $206.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 25th. Robert W. Baird upped their target price on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. UBS Group upped their target price 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, JPMorgan Chase & Co. reduced their target price on shares of Cintas from $246.00 to $230.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $222.09.

Insider Buying and Selling at Cintas

In other Cintas news, Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction dated 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 transaction, the director directly owned 2,621 shares of the company's stock, valued at $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction dated 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 sale, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.90% of the company's stock.

Cintas Stock Performance

Shares of CTAS stock opened at $184.36 on Friday. Cintas Corporation has a one year low of $180.78 and a one year high of $229.24. The company's 50-day moving average is $205.38 and its 200 day moving average is $212.54. The company has a market capitalization of $74.09 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.94 and a current ratio of 2.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. Cintas's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio (DPR) is currently 40.82%.

Cintas Company 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.

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