Bank of Nova Scotia purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 276,751 shares of the business services provider's stock, valued at approximately $47,070,000. Bank of Nova Scotia owned about 0.07% of Cintas as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nemes Rush Group LLC acquired a new stake in shares of Cintas during the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in Cintas during the 4th quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in Cintas in the 4th quarter valued at about $26,000. Triumph Capital Management acquired a new position in Cintas in the 3rd quarter valued at about $29,000. Finally, Camelot Portfolios LLC purchased a new position in Cintas in the 4th quarter valued at about $26,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.
Cintas Price Performance
Shares of NASDAQ CTAS opened at $203.79 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The company has a market capitalization of $81.55 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 3.29 and a beta of 0.91. The business has a 50-day moving average of $191.16 and a 200-day moving average of $185.04.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the business posted $1.09 EPS. The company's revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts anticipate that Cintas Corporation will post 5.49 EPS for the current fiscal year.
Cintas Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a positive change from Cintas's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. Cintas's payout ratio is presently 55.61%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Weiss Ratings upgraded Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Argus raised Cintas to a "strong-buy" rating in a research note on Friday, July 17th. Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, June 15th. Finally, UBS Group restated 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cintas presently has an average rating of "Moderate Buy" and an average target price of $212.31.
View Our Latest Report on CTAS
About Cintas
(
Free Report)
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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