Bridges Investment Management Inc. Reduces Stock Holdings in Cintas Corporation $CTAS

Key Points

• Bridges Investment Management Inc. reduced its stake in Cintas Corporation by 1.3%, now owning 270,631 shares valued at $60.3 million.
• Several large investors, including Vanguard Group and Ameriprise Financial, have increased their holdings in Cintas, with institutional investors owning 63.46% of the stock.
• Cintas recently reported quarterly earnings of $1.20 per share, exceeding estimates and demonstrating an 8.7% year-over-year revenue growth.

Bridges Investment Management Inc. reduced its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,631 shares of the business services provider's stock after selling 3,491 shares during the period. Bridges Investment Management Inc. owned 0.07% of Cintas worth $60,316,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Cintas by 1.3% in the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock valued at $7,781,223,000 after acquiring an additional 491,307 shares during the period. Nuveen LLC acquired a new stake in shares of Cintas in the first quarter valued at approximately $1,877,760,000. Northern Trust Corp boosted its holdings in shares of Cintas by 0.7% in the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock valued at $841,749,000 after acquiring an additional 28,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cintas by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,877,309 shares of the business services provider's stock valued at $591,373,000 after acquiring an additional 59,162 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Cintas by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 2,615,330 shares of the business services provider's stock valued at $538,303,000 after acquiring an additional 386,721 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CTAS. JPMorgan Chase & Co. decreased their price objective on Cintas from $246.00 to $230.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Robert W. Baird increased their price objective on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. UBS Group increased their price objective on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company decreased their price objective on Cintas from $221.00 to $218.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Finally, Royal Bank Of Canada decreased their price target on Cintas from $240.00 to $206.00 and set a "sector perform" rating for the company in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $222.09.

Insiders Place Their Bets

In related news, Director Martin Mucci bought 1,200 shares of the firm's stock in a transaction on Monday, July 21st. The shares were bought at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the transaction, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the business's 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 sale, the director owned 21,945 shares in the company, valued at $4,904,049.15. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.90% of the company's stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $187.45 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. The stock has a fifty day moving average price of $206.16 and a 200 day moving average price of $212.69. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The company has a market cap of $75.33 billion, a PE ratio of 42.51, a P/E/G ratio of 3.25 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the company earned $1.10 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current 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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's payout ratio is presently 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.

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