Cintas Corporation $CTAS Position Increased by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Cintas Corporation by 73.7% in the first quarter, owning 38,306 shares valued at approximately $7.87 million.
• Several hedge funds, including Nuveen LLC and GAMMA Investing LLC, made significant changes to their holdings during the same period, with GAMMA increasing its position by 19,644.3%.
• Cintas recently announced a quarterly dividend of $0.45 per share, raising its annualized dividend to $1.80 and representing a yield of 0.9%.

Canada Pension Plan Investment Board increased its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 73.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,306 shares of the business services provider's stock after acquiring an additional 16,258 shares during the period. Canada Pension Plan Investment Board's holdings in Cintas were worth $7,873,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTAS. Nuveen LLC acquired a new stake in shares of Cintas in the first quarter worth approximately $1,877,760,000. GAMMA Investing LLC boosted its position in shares of Cintas by 19,644.3% in the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after acquiring an additional 2,251,629 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Cintas by 169.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider's stock worth $187,235,000 after acquiring an additional 573,151 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 buying an additional 491,307 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Cintas by 20.1% in the first quarter. JPMorgan Chase & Co. now owns 2,585,024 shares of the business services provider's stock valued at $531,300,000 after buying an additional 432,980 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on CTAS shares. JPMorgan Chase & Co. started coverage on shares of Cintas in a research note on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective for the company. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. Robert W. Baird boosted their price objective on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a research note on Thursday, August 21st. Finally, UBS Group boosted their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Cintas presently has an average rating of "Hold" and an average price target of $224.54.

Cintas Stock Down 1.1%

Shares of CTAS traded down $2.34 during mid-day trading on Friday, reaching $204.50. 1,413,719 shares of the stock traded hands, compared to its average volume of 1,760,061. The firm has a market cap of $82.41 billion, a price-to-earnings ratio of 46.37, a P/E/G ratio of 3.57 and a beta of 1.01. The stock has a fifty day simple moving average of $217.78 and a 200 day simple moving average of $212.89. Cintas Corporation has a 12-month low of $180.78 and a 12-month 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 posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

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

Insider Buying and Selling

In related news, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were purchased at an average cost 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 approximately $583,303.55. The trade was a 84.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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.