Assenagon Asset Management S.A. Has $207.09 Million Stock Position in Cintas Corporation $CTAS

Key Points

• Assenagon Asset Management increased its Cintas stake by 18.6% in the second quarter, bringing its holdings to 1.22 million shares valued at approximately $207.1 million. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly earnings and revenue expectations, reporting $1.29 in EPS and $2.91 billion in revenue, with year-over-year revenue growth of 8.9%. The company also raised its quarterly dividend to $0.52 per share, up from $0.45.
• Analyst sentiment remains positive, with Cintas carrying a “Moderate Buy” consensus rating and an average price target of $212.31, compared with its reported share price of $202.15.

Assenagon Asset Management S.A. boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 18.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,217,603 shares of the business services provider's stock after purchasing an additional 191,018 shares during the quarter. Assenagon Asset Management S.A. owned 0.30% of Cintas worth $207,090,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Baron Wealth Management LLC increased its holdings in shares of Cintas by 27.3% during the 2nd quarter. Baron Wealth Management LLC now owns 2,739 shares of the business services provider's stock worth $466,000 after purchasing an additional 588 shares during the period. jvl associates llc raised its position in shares of Cintas by 9.9% during the second quarter. jvl associates llc now owns 4,474 shares of the business services provider's stock valued at $761,000 after buying an additional 404 shares during the last quarter. CX Institutional lifted its stake in shares of Cintas by 51.2% in the second quarter. CX Institutional now owns 2,891 shares of the business services provider's stock valued at $492,000 after buying an additional 979 shares during the period. First Financial Bank Trust Division bought a new stake in shares of Cintas in the second quarter valued at about $282,000. Finally, Samson Rock Capital LLP acquired a new stake in Cintas during the second quarter worth about $2,004,000. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $202.15 on Friday. The company has a 50-day moving average of $185.59 and a 200-day moving average of $184.30. The company has a market capitalization of $80.89 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 3.25 and a beta of 0.92. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities research analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Cintas's dividend payout ratio (DPR) is presently 48.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Argus upgraded Cintas to a "strong-buy" rating in a research note on Friday, July 17th. The Goldman Sachs Group reiterated a "buy" rating and issued a $231.00 price objective on shares of Cintas in a research report on Wednesday, July 15th. Robert W. Baird raised their price objective on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. UBS Group reissued a "buy" rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Finally, Weiss Ratings upgraded Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cintas has an average rating of "Moderate Buy" and an average price target of $212.31.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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